LONDON Feb 20 The pensions deficit at General
Motors' British division stands at up to 1 billion pounds
($1.25 billion), a source told Reuters on Monday, amid fears
over the future of its Vauxhall plants as Peugeot
explores a European buyout.
Peugeot is considering taking over GM's European divisions
Vauxhall and Opel, prompting concerns among British trade unions
over the future of GM's British plants following reports the
French carmaker has pledged to continue production at all four
Many multinational companies, including Tata Steel recently,
have had to deal with increased pension spending and it could be
a factor which influences Peugeot in where to make any possible
cuts following a deal being reached.
(Reporting by Costas Pitas; editing by Stephen Addison)