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Tata to pay Ford less than $2.65 billion: source

Tue Mar 25, 2008 9:43am EDT
 
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LONDON (Reuters) - India's Tata Motors Ltd (TAMO.BO: Quote, Profile, Research, Stock Buzz) (TTM.N: Quote, Profile, Research, Stock Buzz) will pay Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) quite a bit less for Jaguar and Land Rover than a media report of $2.65 billon, a source close to the deal said on Tuesday.

"That figure of $2.65 billion is highly unlikely," the source said. "You have to come south from that by quite a bit."

Earlier, Indian news channel NDTV Profit said Tata Motors had signed a deal to buy the Jaguar and Land Rover brands for $2.65 billion.

(Reporting by Pete Harrison, writing by Dan Lalor)

 
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