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New PSA-Fiat Chrysler management to try to improve cost savings: PSA CEO

FILE PHOTO: CEO of the PSA Group, Carlos Tavares attends the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Denis BalibousePARIS (Reuters) – The value of the cost savings announced in the planned merger between Peugeot owner PSA (PEUP.PA) and Fiat Chrysler (FCHA.MI) is nominal, and its management will try to improve that over time, PSA’s chief executive told French BFM Business radio on Friday. CEO Carlos Tavares also said he does not see the need to scrap any brands within the new PSA-Fiat Chrysler entity. Reporting by Gilles Guillaume; Writing by Matthieu Protard; Editing by Jan HarveyOur Standards:The Thomson Reuters Trust Principles.

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