Indian car manufacturer Tata Motors is holding talks with the Ford Motor Company concerning a possible acquisition of the American car maker’s Jaguar and Land Rover brands.

Both sides said that talks thus far had been “positive” and that more detailed discussions will now take place. If the deal comes off it would see Tata taking a significant step into the luxury car market. Although neither side was willing to discuss the financial details of the proposed acquisitions, media reports are citing figures of around $2.05 billion.

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