Report says Magna seeks only minority stake in Opel

VIENNA (Reuters) - Canadian car parts maker Magna International (MGa.TO) would only seek to buy 20 percent or less of General Motors' (GM.N) Opel unit, Magna chairman and owner Frank Stronach was quoted as saying on Tuesday.

In an interview with Canadian daily newspaper Globe and Mail, Stronach also said he had taken part in meetings of Magna executives with German politicians last week.

"They have an interest, they know we are one of the major suppliers, they know we make cars and thereby they'd like to see the best solution for Germany," Stronach told the paper.

The interview was published a day after the head of Italy's Fiat (FIA.MI) outlined to German officials his plan to create Europe's biggest car maker by combining Fiat's car business with General Motors' European operations and Chrysler.

Magna only late on Monday confirmed publicly that it was looking at Opel, which previously had been revealed only by German politicians who were part of the talks. But it did not provide any details of a possible deal.

Stronach said that the Opel approach broke with Magna's principle of not competing with the carmakers it supplies but the situation may leave him with no choice.

"I've always said our preference would be not to compete, but suppose some of our customers are broken? Then we might have no other choice," he told the Globe and Mail. link...