Peugeot maker PSA says will honour existing Opel job guarantees | Reuters

By Edward Taylor and Laurence Frost | FRANKFURT/PARIS FRANKFURT/PARIS PSA Group told German Chancellor Angela Merkel and top labour representatives that it would uphold Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of job losses are likely eventually. As part of a sweeping charm offensive of the political and automotive establishment in Germany, PSA Chief Executive Carlos Tavares discussed his plans with Merkel on Tuesday, after seeking to reassure powerful German labour union IG Metall and Opel's European works council on Monday about the impact of any deal on existing sites."PSA Group reaffirmed its commitment to respect the existing agreements in the European countries and to continue the dialogue with all parties," Peugeot maker PSA said in a statement on Tuesday.Tavares's discussion with Merkel, in a phone call, was "fruitful", PSA said.He presented the rationale for creating a European champion with five "complementary" brands with deep roots in their respective domestic markets and told Merkel Opel would benefit from considerable independence within the group."The tone of the exchange was very convivial and Chancellor Merkel was very receptive to our arguments," PSA said. According to a German government spokesman, he also said that PSA would give plant, investment and job guarantees.The labour ministers of France and Germany said that they believed a deal between GM and PSA would be a "win-win situation" for both countries

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