Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
19 November, 2017 23:08 IST
Tata Motors, Skoda cease discussions around potential partnership
Source: IRIS | 11 Aug, 2017, 08.41AM
Comments  |  Post Comment

Tata Motors and Skoda Auto have performed a joint technical feasibility and commercial evaluation of a potential collaboration. Based on intense and constructive discussions, both the companies have jointly concluded that the envisioned areas of partnership may not yield the desired synergies as originally assessed. Nevertheless, the two companies have decided to keep in touch for future areas of collaborations.

Guenter Butschek, CEO and Managing Director, Tata Motors, (Q,N,C,F)* said, "We have evaluated the technical feasibility and degree of synergies for the envisioned partnership. We have concluded that the strategic benefits for both parties are below the threshold levels. However, we remain positive of exploring future opportunities with the Volkswagen group, given the relationship of mutual respect that we witnessed during the phase of our cooperation discussions."

Tata Motors will continue to pursue its standalone product strategy to bring exciting and world-class products to its customers.

Shares of the company declined Rs 35.85, or 8.6%, to settle at Rs 380.90. The total volume of shares traded was 2,401,602 at the BSE (Thursday).



Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Tata Communications joins hands with The European Tour - 17-Nov-2017 10:27
Hinduja Ventures enters into agreements to hike stake in HLFL - 17-Nov-2017 10:23
Cipla receives final approval for generic Pulmicort Respules - 17-Nov-2017 10:16
Tata Power raises Rs 15 bn on private placement basis - 17-Nov-2017 10:09
Indian Navy signs contract with Tata Power for supply of PDDS - 17-Nov-2017 10:06
ICICI Bank, Paytm tie-up to offer short term instant digital credit - 17-Nov-2017 10:00
Wipro launches industry-specific solutions on SAP Leonardo - 17-Nov-2017 09:56
Infosys in collaboration with ATP launches Second Screen - 17-Nov-2017 09:52
Tata Motors joins hands with Energy Efficiencies Services - 16-Nov-2017 12:31
Ahluwalia Contracts bags orders worth Rs 3.11 bn - 16-Nov-2017 11:30
Suven Life Sciences secures product patents in HK, India and USA - 16-Nov-2017 11:27
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer