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Tata Motors to pay $2.65 billion for Ford brands: report
MUMBAI (Reuters) - India's Tata Motors Ltd <TAMO.BO><TTM.N> had closed a deal to buy Ford Motor Co's <F.N> Jaguar and Land Rover brands for $2.65 billion, news channel NDTV Profit said on Tuesday, citing unnamed sources.
The television channel said the deal would be signed in London later on Tuesday.
However, a Tata Group spokesman said discussions were still going on and the company had no guidance to give on the deal.
"We have nothing to tell you now," he said.
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Tata Motors, India's top vehicle maker, received union backing for the deal and was named the front-runner in January by Ford, which is seeking to shore up its balance sheet and reduce debt.
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(Reporting by Hiral Vora; Editing by John Mair)