Tata Group not interested in Ferrari stake as reported

Market sources had claimed that India’s Tata Group had expressed their interest in acquiring a stake in the Fiat owned luxury brand Ferrari.

The company has now clarified the rumors and said: “Tata Group wishes to clarify that the statement has been misquoted and taken out of context.”

A Tata Group representative further said: “The report is completely untrue.”

Tata has been working with Fiat in the Indian market and they share their dealerships. Tata is soon going to launch their Indica car with a Fiat developed diesel engine in the market.

The two companies have also said that they would explore other areas of cooperation.

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