--Italian tax authorities claim Fiat Chrysler underestimated the value of Chrysler by 5.1 billion euros after its phased acquisition several years ago, Bloomberg reports, citing an internal audit report and unnamed sources.

--The audit exposes the car maker to an "exit tax" risk of up to $1.5 billion, though talks could mean the sum may end up significantly lower, according to Bloomberg.

--Peugeot is aware of the tax audit and doesn't expect it to harm or delay its merger deal with Fiat, according to the report.

--The company believes that its tax position with respect to the merger is fully supported by both the facts and applicable tax law and will vigorously defend its position," Fiat said previously.

Full story: https://bloom.bg/2Psih99

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(END) Dow Jones Newswires

December 05, 2019 04:01 ET (09:01 GMT)

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