General Motors and PSA Peugeot Citroën are poised to announce an alliance that will see the US carmaker take a 7 per cent stake in its French counterpart and the companies building products and buying supplies together, two people briefed on the talks said yesterday.

General Motors: 通用汽车

be poised to: 准备就绪

announce an alliance: 宣布联盟

brief on: 向…作简要的介绍；向…简要汇报

Peugeot is planning a rights issue that would in part allow GM to enter its share capital, but would also provide the struggling French carmaker with extra funding, including for new projects launched by the partnership.

a rights issue: 配股

share capital: 股份资本

GM and Peugeot have been talking for several months about teaming up to develop and build engines, transmissions and vehicles, and combine their purchasing power. They had been working towards making an announcement at next week’s Geneva auto show, but will now probably reveal details sooner because of leaks to the press. Peugeot and Opel yesterday both declined to comment on the alliance talks.

transmission: 变速器

decline to: 拒绝

The tie-up is expected to focus primarily on Europe, where both Peugeot and GM’s regional Opel/Vauxhall divisions are losing money, but include operations on other continents too. Peugeot also sells cars in Latin America and China, both markets where GM is one of the top producers.

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Peugeot’s shares surged by almost 10 per cent yesterday in response to news of the stake sale, but all of the gains were wiped out after a report that the company was planning a rights issue to raise about €1bn. However, people close to the negotiations said that talks on the issue were continuing and the amount could change.

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