Tavares: No Mergers Till PSA Recovers

PSA Peugeot Citroen CEO Carlos Tavares tells Italy's Corriere della Sera the company has no interest in discussing a merger with anyone until it completes its turnaround plan a few years from now.

Tavares made the comment in response to speculation by equity researchers MainFirst, who envision PSA merging with Fiat Chrysler Automobiles NV to form a company with FCA CEO Sergio Marchionne as chairman and Tavares as CEO.

Last month Marchionne told Bloomberg News an FCA Merger with Ford or General Motors was "feasible" but unlikely in the near term. Bloomberg said at the time that Marchionne, who insists further consolidation in the auto industry is inevitable, seemed unenthusiastic about partnering with PSA.