* Tata spokesman says report "absolutely incorrect"
* Peugeot spokesman not available for comment
* Peugeot CEO looking for alternative if GM alliance dies
BERLIN, Nov 14 Tata Motors Ltd denied
a report on Wednesday that the Indian car maker is in talks to
set up an alliance with French peer PSA Peugeot Citroen
"That is absolutely incorrect," Tata spokesman Debasis Ray
Germany's Manager Magazin had reported earlier on Wednesday
that Peugeot Chief Executive Philippe Varin is looking for an
alternative should cooperation with General Motors and
its European Opel division collapse, citing unnamed company
"We are still not commenting on the countless rumours about
the group," a Peugeot spokesman said.
GM and Peugeot have halted talks on a deeper tie-up amid
misgivings about the French carmaker's worsening finances and
government-backed bailout, Reuters reported on Tuesday, citing
people familiar with the matter.
Peugeot shares rose as much as 3.3 percent on the Manager
Magazin report, before giving up most of their gains after
Tata's denial. The stock was trading at 4.47 euros as of 1109
GMT, little changed from Tuesday's close.