 Online edition of India's National Newspaper Tuesday, Dec 23, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
| Business |
|
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Retail Plus | Classifieds | Jobs | Obituary |
Business
Planned U.K. Government bailout helps Tatas. LONDON: Indian conglomerate Tatas have secured “last minute funding” for Jaguar Land Rover as the bankers were convinced that the U.K. Government will prevent a collapse of the luxury car maker, says a media report. Attributing to senior Whitehall figures, The Times has reported that Prime Minister Gordon Brown and Chancellor Alistair Darling had already privately agreed that short-term assistance was almost certainly necessary. “Tata found the cash because its banks were convinced that the government would prevent a collapse,” the daily said quoting a source and added that officials had been working on the details of the package over the weekend. The report published online on Monday noted that “a planned government bailout worth tens of millions of pounds to keep Jaguar Land Rover afloat has helped the company’s owners to secure last-minute funding”. “Gordon Brown had decided to intervene to prevent the collapse of the carmaker and was preparing to announce a short-term bailout package today or tomorrow”. “But a combination of tough rhetoric in public and private reassurance appears to have helped the Tata Group to secure enough cash to postpone the bailout until after Christmas,” the daily noted. According to the report, the Tatas told ministers that it was facing a cash flow crisis and needed help to pay suppliers. Meanwhile, the Financial Times has reported that the Tatas have agreed to inject “tens of millions” of pounds into Jaguar Land Rover to prevent an immediate cash flow crisis. “Tata, the Indian owner of Jaguar Land Rover, has agreed to inject ‘tens of millions’ of pounds into the British car company to prevent an immediate cash flow crisis,” the Financial Times said in a report. — PTI
Printer friendly
page
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Ergo | Home |
Copyright © 2008, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|