India's Tata says hopes for Jaguar, Land Rover deal soon

0 Comments | AFP, February, 2008

NEW DELHI (AFP) — India's top vehicle maker Tata Motors says it hopes to clinch a deal to buy the luxury Jaguar and Land Rover car brands from ailing US carmaker Ford "in the forthcoming weeks".

Ford named Tata Motors, which last month unveiled the world's cheapest car, as the preferred buyer for the Jaguar and Land Rover marques early last month.

"Tata Motors is pleased by the progress in the discussions with Ford to date and hopes both the parties can reach an agreement in the forthcoming weeks," company spokesman Debasis Ray said in a statement late Monday.

The company, part of India's sprawling tea-to-steel conglomerate Tata Group, denied British media reports that it had held talks about Italian automaker Fiat's participation in the deal.

The...