India's Tata Motors said on Tuesday it had no comment on a report it had clinched the multi billion-dollar purchase of luxury British icons Jaguar and Land Rover from ailing US automaker Ford.
Indian news channel NDTV Profit said the company, part of the sprawling tea-to-steel Tata Group, had sealed the purchase it said was valued at around 2.65 billion dollars.
The channel said the purchase, which would give Tata access to the sophisticated engines of the prestige cars and sharply raise its foreign profile, could be announced in London later in the day at around midnight Indian time (1830 GMT).
Tata Motors, India's top vehicles maker controlling more than half of the country's truck market and nearly 20 percent of its passenger car market, said it could not comment on the NDTV report, which quoted unnamed sources.
“We are in talks, we have no guidance to give at this time,” said Tata spokesman Debasis Ray who had recently declared there were “no roadblocks” to the deal.
India's CNBC TV-18 said the purchase agreement was expected to be announced on Wednesday but that details would be only be made public later.
There have been a flurry of reports that a deal is imminent.
Earlier this week Britain's Financial Times reported that Ford would announce the sale of the British motoring icons to Tata for two billion dollars on Wednesday.
