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Tata in talks with UK government for funds - report

The Sunday Times reports that Tata has asked the UK government for a £1 billion loan for its Jaguar Land Rover business.

The newspaper quoted an unnamed government official as saying Gordon Brown is studying the request and an answer could be made within a fortnight.

Tata is said to have requested a bridging loan to help the carmaker during the next 24 months.

Jaguar Land Rover's global sales have dropped 25%.

The paper said the group's chairman Ratan Tata still has confidence in the future of JLR but believes he needs government help to tide it over for the next two years.

 



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