"That figure of $2.65 billion is highly unlikely," the source said. "You have to come south from that by quite a bit."
LONDON (Reuters) - India's Tata Motors Ltd <TAMO.BO> <TTM.N> will pay Ford Motor Co <F.N> quite a bit less for Jaguar and Land Rover than a media report of $2.65 billon, a source close to the deal said on Tuesday.
"That figure of $2.65 billion is highly unlikely," the source said. "You have to come south from that by quite a bit."
Earlier, Indian news channel NDTV Profit said Tata Motors had signed a deal to buy the Jaguar and Land Rover brands for $2.65 billion.
(Reporting by Pete Harrison, writing by Dan Lalor)
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