Fiat and PSA Likely Face Longer EU Antitrust Probe of Merger

Fiat and PSA Likely Face Longer EU Antitrust Probe of Merger

Executives don't expect speedy approval of the deal and believe the European Commission is likely to open a so-called phase 2 investigation that would push the deadline out to October, according to people familiar with the matter.. The EU has a June 17 deadline to clear the deal unconditionally or open the extended investigation.. The EU often only accepts a clear-cut sale as a quicker solution to its concerns.. The concerns should send the deal to a phase-two review.".