GM Discusses Possible Purchase of Chrysler, German Magazine Says

DaimlerChrysler's chief executive Dieter Zetsche is in negotiations over the sale of its hard-hit U.S. Chrysler unit with General Motors, Manager Magazin said in a press release citing company sources.

The report added negotiations are at an early stage, but that the involved parties are working on it "at full speed."

General Motors declined comment on the report.

DaimlerChrysler earlier in the day said it was "looking into further strategic options" for Chrysler, raising the possibility the German parent could part company with its money-losing U.S. division.

DaimlerChrysler's Chief Executive Dieter Zetsche declined to provide details on any talks.