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TRUCKMAKERS' RUMOURS * WORLDWIDE
* France - Renault says Volvo stake sale not on agenda
Paris,France -Reuters, by Victoria Klesty & Sven Nordenstam, & Gilles Guillaume, Blaise Robinson, Juliette Rouillon & Helen Massy-Beresford; and by James Regan & Erica Billingham -28 Jan 2010: -- Renault repeated that it did not plan to sell shares in Volvo, the world's second-biggest truckmaker, after traders said market talk of a sale was driving the French carmaker's shares higher on Thursday... One banker told Reuters that Renault, Volvo's biggest shareholder, had decided to exit the Swedish truckmaker but it was just a question of when... Analysts said Volvo would need to strengthen its balance sheet given the current weakness of the truck market and that Renault would probably not be in a position to take part in a capital increase by the Swedish company...
* India - Tata Motors vying for Fiat control?
Mumbai,India -NTVD Profit -January 28, 2010: -- India's biggest truckmaker Tata Motors, is on the prowl and may be preparing to buy out the engine making facilities of Fiat in Italy... This could just be one of the biggest deals brewing in the country's auto space... NDTV learnt from sources that Tata Motors is eyeing control of a couple of Fiat engine units in Italy. The source also said that Tata Motors is planning to seek board approval, soon after which the due diligence process will begin... Although Tata Motors declined to comment, sources in the company said that if the deal goes through, it will not only boost Tata Motors' knowhow of the engine segment, but will also address to a great extent, the company's sourcing requirements... Tata Motors can really expect to clinch the deal at a really cheap price...
Labels: truckmakers news worldwide
posted by Unknown @ 10:00 AM
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