Auto major Tata Motors today said it has no interest in acquiring stake in commercial vehicle maker Swaraj Mazda.
"Tata Motors denies any such interest," the company said in a statement today reacting to recent media reports that it was considering acquisition of a stake in Swaraj Mazda.
The reports had stated that Tata Motors is looking to pick up 53.52 per cent stake in Swaraj Mazda, held by Japanese firm Sumitomo Corp.
Earlier in November, the company was reported to be exploring the possibility of buying private equity firm Actis' stake in Swaraj Mazda. Actis has 7.7 per cent direct holding in the commercial vehicle (CV) maker and a further 9.3 per cent through CDC, one of its arms.
Swaraj Mazda makes buses and trucks in the 5.5 tonne to 10.5 tonne segment.
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