GM May Sell Majority Stake in GME

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Italy's Fiat Group SpA is reportedly close to an agreement to take a majority stake in General Motors Corp.'s European business.

Citing unidentified sources, the online version of Germany's Der Spiegel magazine says Fiat was expected to sign a declaration of intent next Tuesday.

Fiat, in the meantime, is already in talks to take a minority 20 per cent stake in Chrysler in exchange for small car and other technology.

Zurich-based GM Europe spokesman Frank Klaas confirmed to The Associated Press there are talks, but wouldn't specify with whom.

"We're in talks with several investors," Klaas said.

"We won't, however, provide any information on the current situation, in which investors are involved, and ask for understanding concerning that."


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