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Tata, Mahindra revise bids for Jaguar, Land Rover-TV

Mon Dec 10, 2007 9:08am EST

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MUMBAI, Dec 10 (Reuters) - India's Tata Motors Ltd (TAMO.BO) and Mahindra & Mahindra Ltd (MAHM.BO) have submitted revised bids for Ford Motor Co's (F.N) Jaguar and Land Rover brands, CNBC-TV18 news channel reported on Monday, citing unnamed sources.

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Their earlier bids for the luxury brands were in the range of $1.8-$2.0 billion, and the companies had now bid higher, the TV channel said, without specifying details.

A Tata group spokesman declined comment, while a Mahindra spokesman did not immediately return a call seeking comment.

Local newspapers last week had reported final bids in the range of $1.5-$2.2 billion had been placed by Tata Motors, Mahindra and Apollo, as well as JP Morgan-backed (JPM.N) One Equity Partners, the bidders on the final shortlist.

Ford has said it could announce the sale of Jaguar and Land Rover, which a Merrill Lynch analyst had valued at up to $1.5 billion, by the year-end or early next year. (Reporting by Rina Chandran; Editing by Mark Williams)

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