UK: No GM decision yet on Fiat equity increase
General Motors said on Monday it had yet to decide whether to take part in an equity increase at Italy's Fiat, in which it holds a 20% stake, Reuters said.
"What we've said so far is we have not made a decision to participate," chief executive Rick Wagoner told a media conference in London, according to Reuters. "That hasn't changed."
Reuters noted that Fiat SpA group, which owns 80% of Fiat Auto, revealed in February a five-billion-euro ($US5.79 billion) recapitalisation for its sputtering car unit.
According to the news agency, Fiat could compel GM to buy its stake in Fiat Auto from 2004 under a "put" option the two companies agreed in 2000 as part of a wider industrial alliance, but Fiat said in March it hoped to avoid ever forcing GM to buy the rest of the car unit.