What is it they say? Don't believe a rumour until it has been officially denied....??!!!!!
Tata not looking at Saab, other acquisitions, chairman says
Automotive News Europe | January 5, 2012 11:01 CET
NEW DELHI -- Tata Motors Ltd. is not on the hunt for any acquisitions of car brands, such as bankrupt Swedish carmaker Saab, Chairman Ratan Tata said.
"We have no plans to shop around, nor do we have any specific brands that we want to acquire," Tata told a media briefing on Thursday.
He said the company did not adequately follow up on the launch of the Nano, the world's cheapest car, when the first 100,000 of them were sold in 2009. Nano sales have not lived up to expectations.
"I don't think we were adequately ready with an advertising campaign, a dealer network," he said.
Last month, Bloomberg reported that Mahindra & Mahindra Ltd., India's biggest SUV maker, is interested in buying at least parts of Saab.
Mahindra completed the purchase of a 70 percent stake in SsangYong Motor Co. earlier this year for about $368 million as it sought to benefit from the Korea-based company's technology and international sales network.
At least one Turkish company is also interested in investing in Saab, Bloomberg also reported. The Turkish government wants the country to have a car brand of its own, and is trying to help a manufacturer take over at least parts of Saab.
Sources: Reuters and Bloomberg
