Tata Eyeing Ford's Jaguar, Land Rover?
|India’s increasingly assertive Tata Group is reportedly eyeing an acquisition of Ford’s Jaguar and Land Rover units.
The rumors, long rife in the media, were confirmed by Chairman Ratan Tata, who told an Indian TV channel, “We certainly have an interest in that.”
Ford, which experienced $12 billion in losses last year, has put the two units for sale as part of its turn-around plans. The U.S. credit crunch has diminished interest in the sale and Indian suitors, which also include Mahindra and Mahindra are tipped to have an advantage in the sale likely to occur in the next few months.