New Delhi, July 30 -- Tata Motors share price declined over 3% in early trade on Wednesday following reports that the auto major is in advanced talks to acquire the Italy-based Iveco Group's truck business from the Agnelli family for $4.5 billion. Tata Motors shares slipped as much as 3.89% to Rs.665.45 apiece on the BSE.

According to a Bloomberg report, Iveco Group NV is close to finalizing a deal to divest its defense unit to Leonardo SpA, while its commercial trucking business is expected to be acquired by Tata Motors.

Citing sources familiar with the matter, the report indicated that both transactions could be announced as early as Wednesday, coinciding with Iveco's earnings release.

Tata Motors is likely to acquire Iveco's commerc...