Tata Motors (TTM): Investors concerned about Tata Motors de...

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Wednesday, 04/02/2008 9:05:51 AM

Wednesday, April 02, 2008 9:05:51 AM

Investors concerned about Tata Motors deal
By Joe Leahy in Mumbai
Donnerstag Mrz 27 2008 13:20

Investors in Tata Motors (NYSE:TTM) are bracing for India's third-largest passenger carmaker to begin selling down some of its investments and stakes in subsidiaries to help finance its $2.3bn takeover of the Ford (NYSE:F) -owned marques Jaguar and Land Rover.

Tata Motors' share price faced renewed pressure Thursday over the deal. Its stock initially fell about 7.3 per cent before recovering to end down 3.6 per cent at Rs655.20.

In a note on the deal, which was formally sealed on Wednesday, Credit Suisse said Tata Motors would probably first offload its holding inTata Steel, India's largest private steelmaker.

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