Tata denies report on alliance talks with PSA
November 14, 2012
BERLIN (Reuters) -- Indian automaker Tata Motors Ltd. denied a report on Wednesday that it is in talks to set up an alliance with money-losing PSA/Peugeot-Citroen.
"That is absolutely incorrect," Tata spokesman Debasis Ray told Reuters.
Citing unnamed company sources, Germany's Manager Magazin reported Wednesday that PSA CEO Philippe Varin is looking for an alternative should his company's planned alliance with General Motors and GM's European unit, Opel/Vauxhall, collapse.
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