UPDATE 1-Fiat, GM agree to delay Fiat Auto option by 1 yr

Newswire

(Adds quotes, background) ROME, Oct 26 (Reuters) - Fiat and General Motors Corp. said on Sunday they had agreed to delay by one year the start date of an option held by the Italian group to sell the remainder of its loss-making car arm to GM. GM and Fiat said in a joint statement that the U.S. company had alleged that the sale of assets of the financing business of Fiat Auto violated the put deal. But Fiat said it had not breached the option deal and considered it still effective. "The ...

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