FTSE LIVE: Fiat Chrysler and Vauxhall owner PSA to merge

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FTSE LIVE: Inflation steady at 1.5%; Fiat Chrysler and Peugeot agree merger; NMC Health slams Muddy Waters’ claims; Pearson sells Penguin stake

  • Fiat Chrysler and PSA merger will create world’s fourth biggest car maker group
  • Pearson selling remaining stake in Penguin Random House and boss quits 
  • Pound continues to slip against the US dollar and euro in trading today
  • NMC Health reaffirms forecasts, announces buyback and shuns accusations 

Fiat Chrysler and PSA, the owner of Vauxhall, have agreed to merge in a bid to create the world’s fourth biggest car maker.

The tie-up, set to create a company worth around £38.1billion, was announced as the industry races to lead a new electric vehicle future as sales of conventionally-powered cars fall globally. 

UK-based education group Pearson has announced it is selling its remaining 25 per cent stake in publisher Penguin Random House to German partner Bertelsmann. 

Meanwhile, NMC Health is continuing to fight back against claims made by US-based Muddy Waters Capital. NMC’s share price rose after the group announced plans to kick of a share buyback scheme.  

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