PSA Peugeot Citroen denied reports that it plans to sell new shares, due to the drop of the auto market in Europe.

    “A capital increase is not on the agenda,” Jean-Baptiste Mounier, a spokesman for the Paris-based company, said in a phone interview today, May 29th.

La Tribune newspaper said today that PSA Peugeot Citroen plans an eventual share sale and that the Peugeot family expressed their opinions about what percentage of the dilution they will accept, taking the information from an anonymous source. The French automaker has been cutting production capacity, disposing assets and selling bonds as it tries to restore profit in the European market, which is due to drop to a 20-year low.

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