French government, banks prepare to rescue Peugeot's finance arm: report

The newspaper, which did not provide sources for its story late on Tuesday, said that for two weeks the finance ministry and the Treasury had been carrying out “intense negotiations” with banks in France in view of a rescue.

A rescue would be based on creditor banks providing unspecified extra time for payment of debts totaling about 4 billion euros (US$5.24 billion), and would also provide extra credit, with a figure of 1.5 billion euros mentioned in the report.

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