Tata happy with Jaguar talks as Fiat denies interest

MUMBAI (Reuters) - Tata Motors Ltd (TAMO.BO: Quote, Profile, Research, Stock Buzz), India's top vehicle maker, said on Monday it was pleased with the negotiations to acquire Ford Motor Co's (F.N: Quote, Profile, Research, Stock Buzz) luxury brands Jaguar and Land Rover, and hoped to complete a deal in weeks.

Despite persistent news reports of Fiat Automobiles SpA's (FIA.MI: Quote, Profile, Research, Stock Buzz) interest in helping out Tata, the Italian automaker came out with a statement later Monday saying it would not take part in the bidding.

"Furthermore, Fiat has not had discussions ... with Tata regarding this potential transaction or its participation in it," it said.

Tata, which unveiled the world's cheapest car in January, has been in talks with Ford since it was chosen as the front-runner to buy the brands.

"Tata Motors is pleased by the progress in the discussions with Ford to date and hopes that both parties can reach an agreement in the forthcoming weeks," Debasis Ray, head of corporate communications, said in a statement.

It also denied media reports that it may share the technology of Jaguar and Land Rover with Fiat, with which it has a joint venture to make cars and engines in India and an alliance for trucks in Latin America and Europe.

"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," Tata said.

Fiat nevertheless said it was considering other types of collaboration with Tata that did not involve Jaguar or Land Rover.

(Reporting by Himangshu Watts in Mumbai and Gilles Castonguay in Milan; Editing by Ranjit Gangadharan/Jeffrey Benkoe)