Here is the clarification from Tata Motors in response to the grapevine that the India’s  top auto maker is going to buy Ford’s stake in Japan’s Mazda Motor Co. Lately, the company’s spokesman Debasis Ray denied such reports.

“There have been reports in the media that Tata Motors is among potential buyers for shares in Mazda Motors. Tata Motors clarifies that the report is incorrect,” said Ray.

Ford Motors is considering selling about 20 percent stake out of total 33.4 percent of Mazda. The automaker is in the process of approaching prospective companies for the sale. A lot of speculations have been made, which say that Tata Motors would be the one to buy Ford’s stake in the Japanese company. Tata Motors had bought the Jaguar and Land Rover from Ford earlier this year for $2.3 billion.

This entry was posted on Thursday, October 16th, 2008 at 6:15 am and is filed under Ford, Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.