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DPHIQ 0.0910/0.0911 News early this morning READ:

May 29 (Reuters) - Auto parts supplier Delphi Corp (DPHIQ.PK) may soon emerge from bankruptcy with the Obama administration's autos industry taskforce pushing for a sale of its assets, possibly to another parts supplier or an investment firm, the New York Times said, citing people briefed on the matter.

Delphi, which has operated in bankruptcy since 2005, can also see some of its assets getting re-acquired by General Motors (GM.N), the people told the paper. Delphi was originally spun off from GM.

The paper said the people also cautioned that talks were continuing and a deal might not be reached. But one of them said that an agreement might be struck over the weekend.

On Thursday a bankruptcy court judge also permitted Delphi to delay a crucial hearing on its restructuring plan until Tuesday next week, a day after GM is expected to file for bankruptcy, the paper said.

The hearing was originally scheduled for Friday.

Delphi could not immediately be reached for comment by Reuters. (Reporting by Esha Dey in Bangalore; Editing by Greg Mahlich)

http://www.reuters.com/article/marketsNews/idINBNG46933020090529?rpc=44