No decision on potential U.S. stake in GM: official

WASHINGTON (Reuters) - The federal task force overseeing auto industry restructuring has made no decision yet on a potential government stake in General Motors Corp, an Obama administration official said on Friday.

Responding to a report that the government would hold any shares in a restructured GM for at least two years, the official said the company was still working on its restructuring plan with the administration.

GM has asked the government to accept a majority stake in a new GM in exchange for at least half of the bailout debt that the automaker has run up over the past four months.

President Barack Obama has said the government would want to get out of the auto business as quickly as possible once GM and bankrupt Chrysler were back on their feet.

(Reporting by David Lawder and John Crawley; Editing by Andre Grenon)