Tata Motors clarifies on news item regarding acquisition

With reference to the news items appearing in a leading daily titled, "Tata Motors to buy out Hispano", Tata Motors Ltd has clarified with reference to the Press Release dated February 25, 2005 end March 16, 2005, wherein the Company had informed of the acquisition of a 21% equity stake in Hispano Carrocera, SA, Spain, as also of the call option of the Company to purchase the remaining 7S% at a price not exceeding Euro 2 Million as per the terms and conditions of the Investment Agreement.

The Company has not exercised its call option as of date.

Source : Equity Bulls

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