Tata named favourite to buy Jag and LR
* Ford vice-president backs Tata bid * Further discussions over coming weeks * Other buyers seem out of favour...
Jaguar and Land Rover could soon be owned by Indias Tata Motors.
Tata has long been viewed as the favourite to secure ownership of Jaguar and Land Rover from current owners Ford. That status was cemented today by an announcement by Fords executive vice president, Lewis Booth.
Ford is committed to negotiations at a more detailed level with Tata Motors concerning the potential sale of Jaguar and Land Rover, said Booth.
That news seems to leave rival bids from another India manufacturer, Mahindra & Mahindra, and the private equity firm, One Equity Partners, out in the cold. However, a final decision isn't expected for some weeks.
Trade unions have also thrown their weight behind the Tata bid, believing that the Indian firm offers the best long-term security for the thousands employed by Land Rover and Jaguar in the UK.
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