General Motors executives are said to be meeting with their Fiat counterparts today for talks likely to focus on the possible sale of the Italian giant's auto business.

Fiat chief executive Sergio Marchionne was expected to insist to GM chairman and chief executive Rick Wagoner that the U.S. company honor a "put option," part of a 2000 deal under which Fiat has the right to sell its car business to GM, as a deadline approaches.

Both companies are declining to comment.