Tata Motors in race for Jaguar, Land Rover
25 Aug 2007
Mumbai: Tata Group is interested in acquiring Ford Motor Co''s Jaguar and Land Rover brands, chairman Ratan Tata told the CNBC TV18 television channel in an interview.
In an exclusive interview to the CNBC-TV18 network, Tata acknowledged for the first time that Tata Motors is indeed in the race for Land Rover and Jaguar.
The acquisition would make Tata Motors less dependent on just one market, Tata said in excerpts of the interview shown by the channel.
"We certainly have an interest in that segment but it is not the time to comment on it now. It is to give ourselves scale and global reach, as we take ourselves away from subordination to a single economy," said Tata.
The full interview will be aired in two parts on 26-27 August.
Ford said earlier this week it planned to have more details on the sale of Jaguar and Land Rover by the end of 2007 or early 2008.
Tata
Motors Ltd and Mahindra & Mahindra Ltd, as well as US buyout firms TPG and
Ripplewood were among those who had expressed interest in a possible bid for the
iconic UK brands.