Two of Britain's most iconic car companies are set to come under the control of Indian car maker Tata. Current owners of the Brit car manufacturers, Ford, says it has reached a more advanced level of negotiations with Tata than with other prospective bidders.
Tata first registered its interest in August 2007 and has moved quickly into pole position against others, such as private equity firms. The Jaguar and Land Rover work force and the unions that represent it are also keen on the Tata deal, saying that it will give both companies greater security. The unions that represent the workers are also behind the deal.
Ford Europe's executive vice president Lewis Booth said: "There is still work to do and no final decision has been made, but we will continue with further substantive talks with Tata Motors in the coming weeks."
No timeframe has being confirmed for the announcement of a successful deal, but it's thought both Ford and Tata are keen to complete the sale by the beginning of April.
Alisdair Suttie
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