FCA-PSA tie-up must be "merger of equals" with no job cuts - UILM trade union

A possible tie-up between Fiat Chrysler and Peugeot owner PSA must be a "merger of equals" that leads to no job losses in Italy, Italian trade union UILM leader Rocco Palombella said on Wednesday.

FCA and PSA have confirmed talks over a potential tie-up that could create a $50 billion automotive giant better placed to tackle costly technological and regulatory challenges facing the industry.

Also Read: UPDATE 2-Fiat Chrysler and Peugeot confirm talks over potential $50 bln tie-up