Italian car marker Fiat SpA (F.MI) Thursday declined comment on a report in German magazine Der Spiegel saying Fiat will acquire a majority stake in Germany's Adam Opel GmbH.

A spokeswomman for Opel, a European unit of General Motors (GM), declined to comment on the speculation.

The report says that Fiat will sign a memoradum of understanding for the acquisition on Tuesday. Further, the report quotes an Opel employee representative as saying he would fear "a dramatic reduction in Opel jobs and the closure of factories in Germany."

Magazine Web site: www.spiegel.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.