Shares in French carmaker PSA Peugeot Citroen ( PEUP.PA ) fell a further 11.6 percent on Friday, making for a 23 percent fall in just four days, after U.S. alliance partner General Motors ( GM.N ) sold its stake ahead of a possible new share issue by the struggling French carmaker. The 7 percent stake, totaling 24.84 million shares, was sold at 10 euros apiece, traders said, at the bottom of a range of 10-10.25 euros and at a 5.9 percent discount to Thursday’s closing price.
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