UPDATE 1-Magna says open to "win-win" Fiat collaboration

* Co-CEO says open to collaborations with many companies

* Expects rash of bankruptcies in parts sector

* Says Magna eyeing Russian expansion (Updated throughout)

By John McCrank

HAMILTON, Ontario, May 28 (Reuters) - Magna International Inc (MGa.TO) would be open to collaborating with Fiat SpA (FIA.MI) or other European automakers, if it's a "win-win" scenario, the Canadian company's co-chief executive told Reuters on Thursday.

Don Walker would not comment on Magna's current battle with Fiat to buy General Motors Corp's GM.N Opel unit, saying he was not up to date on all the details of the negotiations [ID:nLS42616]. But he said he would not rule out some sort of alliance down the road.

"If you look at all the car companies, whether they're willing to work on sharing engine technology, transmission technology, sharing a platform -- I think there'll be more and more sharing of platforms -- and they'll do more of the marketing. So, never say never," Walker said when asked if a Magna-Fiat collaboration was a possibility.

"If there's a win-win, then there's always room for collaboration," he said on the sidelines of a conference in Hamilton, Ontario.

Walker added that while Magna was not in talks to buy GM's Saturn division, it would consider working with the eventual buyer if approached with a good opportunity.