KEY POINTS:
India's Tata Motors may start due diligence to acquire Ford's Jaguar and Land Rover brands, the Hindustan Times reports.
"Senior Tata officials are already in London," it quoted a source close to the transaction as saying.
A spokesman for Tata declined to comment.
Tata and its local rival Mahindra & Mahindra, along with US buyout firms TPG and Ripplewood, were among those that have reportedly expressed interest in the marques.
The Hindustan Times said Citigroup was believed to be advising Tata, India's top bus and truck maker, on the deal. The newspaper said Arun Gandhi, a director in the Tata group who was involved in Tata Steel's acquisition of metals manufacturer Corus, was expected to lead the team of negotiators.
Ford said last month it was working with financial advisers on the best options for Jaguar and Land Rover.
- Reuters
