Fiat says has no comment on GM writedown report

Newswire

TURIN, Oct 25 (Reuters) - Italian carmaker Fiat said on Friday it would not comment on a report that it planned to write down the value of its five percent stake in General Motors Corp . After GM wrote off virtually all its 20 percent stake in Fiat's car arm Fiat Auto this month, weekly news magazine Il Mondo reported in its Friday edition that Fiat's board next week would consider the possibility of a similar move. "Our policy is not to comment on press rumours," a Fiat spokesman said. ...

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