The French company made a similar statement.
FCA shares shot up almost 9% on the news to 12.75 euros ($14.70) in Milan trading.
Even before FCA courted Renault, PSA had originally talked about a merger with the Italian-American carmaker, but FCA rebuffed it; at the time, Fiat Chrysler execs felt as if a merger wouldn't solve any of its money problems in the weakening European market.
Fiat Chrysler Chairman John Elkann broke off talks with Renault in June after French government officials intervened and pushed for Renault first to resolve tensions with its Japanese alliance partner, Nissan Motor Co. His role in these talks has not been disclosed.
Mike Pompeo Arraigns Washington Post Over ‘Sick’ Headline for ISIS Leader’s Obituary
The Post headlined its obituary initially as: "Abu Bakr al-Baghdadi, Islamic State's terrorist-in-chief, dies at 48". Al-Baghdadi died as a result of a US Special Forces operation in Syria's Idlib province on Sunday.
This Manchester United flop bagged home performance bonus worth £5 Million?
After nine games, United find themselves in an awkward position as they lie 14th in the log, two points off relegation. I think not having a recognised No 9 is a problem, maybe a creative player, a No 10 as well.
Dennis and Okereke's Club Brugge Suffer Heavy Defeat In UCL
Club Brugge have struggled at home in the Champions League while PSG have the quality and experience to grind out a result here. Club Brugge have two points from their three group games and go to Paris for their next Champions League match on November 6.
PSA is hoping to break back into the US markets, where it hasn't sold a auto in more than 20 years.
Peugeot and Fiat Chrysler could over time share engines and vehicle architectures, reducing capital spending and freeing up cash to invest in electric vehicles and emissions reduction technology required in Europe, China and other global markets.
A merger of the two groups would bring under one roof Alfa Romeo, Chrysler, Citroen, Dodge, DS, Jeep, Lancia, Maserati, Opel, Peugeot and Vauxhall.
After ditching a proposed merger with Renault in June, Fiat Chrysler (FCA) chairman John Elkann confirmed the group's bid to pursue an alternative alliance as auto makers face huge investments for electrification, emission reduction and autonomous driving technologies.
PSA has performed a remarkable turnaround in recent years, going from one of the industry's sicker vehicle companies to one of its more powerful.