Roundup: Shareholders green-light Fiat Chrysler-PSA merger, shares leap

ROME, Jan. 4 (Xinhua) -- Shareholders in Italian-American carmaker Fiat Chrysler and France's Peugeot owner PSA Group voted overwhelmingly on Monday to approve the companies' merger, removing the last major obstacle to the creation of the world's fourth largest auto manufacturer.

The new company, which will be called Stellantis, is expected to formally start operations no later than the end of March. According to statements from both companies, more than 99 percent of shareholder votes cast were in favor of the merger worth 38 billion U.S. dollars.