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[SonnyJay]

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it will be sold this year

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Starting to look like this might not be true. The buzz I've heard is that they'll hold off until January 2008 to announce a buyer. Either way, it looks like it'll be close.

Also read a few reports that say Tata has the inside track, but I'm not confident enough in it to take them at +250. A lot of the theory is that PE funds might not be able to get the financing that would make the deal appealing in the current market. Also, Fiat and Mahindra are supposedly out.

Has anyone that follows M&A heard anything similar/different?