Jaguar-LR deal: Tatas in driver`s seat

`While no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks,`` Lewis Booth, executive vice-president of Ford`s European units, said in a statement.

Jaguar and Land Rover employees in the United Kingdom were told about the negotiations Thursday morning shortly before the company made the announcement. Ford executives have said they expect to sell the two British automakers early this year.

Ford spokesman Jay Ward in London would not say how much Tata bid for the automakers, nor would he say if two other bidders, Indian automaker Mahindra & Mahindra Ltd and US private equity firm One Equity Partners LLC, still were in the running. Last month, people close to the negotiations with Ford told the AP that potential suitors had submitted bids for both companies that ranged from $1.5 billion to $2 billion.

Text and Images: AP

Image:A Range Rover is seen outside the Land Rover factory in Birmingham, England.