July 5, 2017 / 3:11 PM / a month ago

PSA wins EU approval to buy GM's German unit Opel

The logo of Opel is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 7, 2017.Arnd Wiegmann

BRUSSELS (Reuters) - French carmaker PSA Group (PEUP.PA) secured unconditional EU antitrust approval on Wednesday to acquire General Motors' (GM.N) German unit Opel, a move which will help it better compete with market leader Volkswagen (VOWG_p.DE).

The European Commission said the deal did not pose any competition concerns.

PSA, the maker of Peugeot and Citroen cars, has pledged to return Opel and its British Vauxhall brand to profit.

Reporting by Foo Yun Chee; editing Robert-Jan Bartunek

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