December 9, 2008 / 8:43 PM / in 10 years

CAW says no talks on equity stakes in automakers

OTTAWA, Dec 9 (Reuters) - The Canadian Auto Workers union said on Tuesday it has had no talks about taking private equity stakes in any of the Detroit automakers.

Ken Lewenza, president of the CAW, made the comment after meeting with Federal Industry Minister Tony Clement in Ottawa.

The United Auto Workers union in the United States said on Monday that it was seeking a stake in General Motors Corp (GM.N) and a seat on its board in exchange for any concessions intended to cut costs for the ailing automaker so it could qualify for government aid. ($1=$1.26 Canadian) (Reporting by Louise Egan, writing by John McCrank)

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