DETROIT -- General Motors said on Friday it has not decided whether to participate in the five billion-euro capital increase of the car arm of Fiat.
"We have been in discussions with Fiat, but we have not reached a decision to participate in the recapitalization of Fiat Auto Holdings B.V.," GM spokeswoman Toni Simonetti said.
GM has a 20 percent stake in Fiat Auto.
Simonetti declined to comment if the recapitalization would impact Fiat's put option to sell the remaining 80 percent stake in Fiat Auto to GM at some time after 2004.
When asked if GM was still in discussions with Fiat about the recapitalization plan, Simonetti said, "We are always in discussions with Fiat."