Truck and carmaker Tata Motors has no plans to list its Jaguar Land Rover unit in London, the company said, denying a TV report it had initiated talks with banks.
That is completely untrue. There is no such plan, Debasis Ray, a spokesman for Tata Motors, told Reuters.
Citing sources familiar with the matter, the ET Now television channel had reported on Thursday the Jaguar Land Rover unit would most likely be listed in 2012.
Banking sources told Reuters a JLR listing was unlikely in the next 12 months as the company was still in the process of a turnaround.
Tata bought the British luxury brand from Ford Motor Co for $2.3 billion in 2008.