Tata Motors, India’s biggest commercial vehicle maker, has denied it was considering buying Japanese conglomerate Sumitomo’s majority stake in Indian truck and bus maker Swaraj Mazda.

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India’s Economic Times newspaper reported earlier in the week that Tata was mulling purchasing 54% of Swaraj Mazda in a deal worth up to US$54m.


“There have been speculative reports in a section of the media that Tata Motors is considering acquisition of a stake in Swaraj Mazda,” Tata Motors said in a statement. “Tata Motors denies any such interest,” the company added.


Tata Motors is a major player in India’s commercial vehicle market, which is set to see the entry of competitors such as General Motors and its Chinese partner SAIC.

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