Jaguar in UK govt talks for 1 bn pound loan: Report

British-based carmaker Jaguar Land Rover is in secret talks with the UK government over a 1 billion pound ($1.48 billion) loan, just nine
months after the Indian conglomerate Tata Group bought the luxury carmaker, a media roport said on Sunday.

The request reflects the sharp downturn in the global car market which has already pushed a handful of big carmakers to the edge of bankruptcy, and one UK government source said Prime Minister Gordon Brown is studying the request, the report added.

In a Jaguar Land Rover statement, the group said on Sunday it supported UK and European carmaker’s industry bodies seeking help from governments but would not comment specifically. Read more
Courtesy: economictimes.indiatimes.com

This entry was posted on Sunday, November 23rd, 2008 at 9:10 am and is filed under Tata Motors. 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.