Tata Motors denies report claiming he could sell Jaguar and Land Rover -Cars Automobiles

Tata Motors has rejected a recently released report mentioning one of the options considered for the ailing brands Jaguar and Land Rover sold her to another.

The original report from Bloomberg The Indian company considered whether to outsource the two British automakers altogether, sell a minority stake or seek a venture capital partner for JLR to cut costs.

However, a Tata Motors spokesperson told Reuters "There is no truth to the rumors that Tata Motors wants to sell its stake in JLR."

After the original report Tata Motors conducts private discussions with consultants at an early stage, which could well lead to nowhere, citing sources. It is believed that the Indian company is reluctant to relinquish control over JLR and instead seek a strategic partner or sovereign wealth fund.

Tata Motors currently owns 100 percent of Jaguar Land Rover Write off 4.1 billion dollars in the final quarter of 2018. Jaguar is struggling with a decline in sales in China and a sharp fall in demand for diesel models in Europe. In addition, JLR has announced a workforce reduction of 10 percent as Brexit is unclear.

Last month Jaguar Land Rover They were looking for alternative sources of funding as the conditions for borrowing on the bond market The British company that is currently spend a lot of money For the development of electric vehicles must be applied in 14 months, a billion dollars to replace maturing bonds.