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Tata Motors down 4 percent ahead of likely Ford deal

NEW DELHI
Wed Mar 26, 2008 2:57am EDT

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NEW DELHI (Reuters) - Shares in Indian vehicle maker Tata Motors (TAMO.BO) extended losses to more than 4 percent on Wednesday afternoon, ahead of an expected deal to buy Ford Motor's (F.N) premium Jaguar and Land Rover brands.

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At 2:49 a.m. EDT, the firm's shares were trading 4.11 percent down at 652 rupees, after opening 1.5 percent up at the day's high of 690 rupees.

A source said on Tuesday Ford (F.N) had agreed to sell its Jaguar and Land Rover brands to the Indian firm for more than $2 billion, while another source said the U.S. automaker plans to publicly announce the deal in New York at 8:00 a.m. EDT on Wednesday.

(Reporting by Hiral Vora)
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