PARIS, Oct 26 (Reuters) - French carmaker PSA Peugeot Citroen is open to a reduction of its stake in car parts manufacturer Faurecia, Les Echos reported on Monday.
"PSA does not rule out a reduction of its stake in Faurecia ... if it allows Faurecia to take part to some consolidation opportunities in order to reinforce its positions", the newspaper said.
PSA currently holds 71 percent of Faurecia shares.
Asked about this stakeholding, PSA Chief Executive Philippe Varin told Les Echos there was "no magical number" and that Faurecia needed to become a world leader in its markets.
"If there are possibilities (of M&A), one must go for them", Varin said without elaborating.
Faurecia raised its annual forecasts last week despite posting a 21 percent drop on third-quarter sales.).
Varin also told Les Echos that PSA had established a list of 15 strategic car parts groups with whom it intends to place tougher demands. (Reporting by Matthias Blamont; Editing by Rupert Winchester)