Tatas may sell stake in HV Axel, HV Trans

To fund its Jaguar Land Rover (JLR) buyout, Tata Motors, is preparing to divest stake in two of its 100 per cent owned business units "" HV Axel and HV Transmission.

According to sources, Tata Motors has been in talks with automotive firms, which include an international transmission giant. The company, according to officials, is unlikely to offload a majority stake in both the profitable subsidiaries.

"As we pointed out on March 26, 2008, the company is examining several plans, and will make appropriate announcements after internal assessment. We do not have any comments beyond this," the company spokesperson said, replying to a questionnaire.