July 16, 2007 / 5:36 AM / 12 years ago

Daimler to sell stake in India's Tata Motors-report

MUMBAI, July 16 (Reuters) - DaimlerChrysler DCXGn.DE is looking to sell its 6.6 percent stake in India’s Tata Motors Ltd. (TAMO.BO), the Times of India newspaper said in an unsourced report on Monday.

DaimlerChrysler’s stake in Tata Motors, India’s top bus and truck maker, is worth nearly 20 billion rupees ($495 million).

“We cannot comment on any speculation about exiting from Tata Motors,” a spokeswoman for DaimlerChrysler told the paper.

A Tata Motors spokesman denied DaimlerChrysler was selling its stake in the Indian firm.

DaimlerChrysler imports the Actros range of trucks in India and plans to also assemble semi-knocked down trucks. It is building a plant in western Maharashtra state with a capacity to make 5,000 Mercedes cars a year.

($1=40.4 rupees)

((Reporting by Rina Chandran, editing by Ranjit Gangadharan; Reuters Messaging: rina.chandran.reuters.com@reuters.net; +91 22 6636 9251)) Keywords: TATA DAIMLER/

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