General Motors on Thursday said in a regulatory filing that it believes it can terminate an option that would force it to buy the troubled Fiat Auto unit from Italy’s Fiat group, Reuters reported.

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GM reportedly said that Fiat’s recapitalisation plan to raise funds this year and the sale of certain assets breached the terms of a put option, giving Fiat the right to sell Fiat Auto to GM at a later date.


Those actions “represent material breaches of the Master Agreement, with the result that the Master Agreement, including the Put, is terminable by GM,” the vehicle maker reportedly said in the securities filing cited by Reuters.

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