TaMo among suitors for Iveco

A third source said that, as the separation process of the defence unit was progressing, Exor had started talks with more than one non-European counterpart over a possible sale.

- 

The talks over the sale of Iveco and Tata Motors' approach have not been reported before.

Exor owns a 27.1% stake in Iveco, with 43.1% of voting rights in the Turin-based truck maker. Iveco, which also makes buses and engines, has a market capitalisation of around €4.2 billion ($4.9 billion).