Ford favors India automaker in Jaguar sale

MUMBAI, Jan. 4 (UPI) -- Ford said it is "committed" to stepped-up negotiations with India's Tata Motors in the sale of Jaguar and Land Rover, its prestigious British luxury models.

A report from Mumbai indicated an agreement to complete the sale could come in the next few weeks, The Wall Street Journal said Friday. Tata is India's largest automaker.

Two other bidders were up for consideration: One Equity Partners, a private-equity firm that is part of J.P. Morgan Chase; and Indian automaker Mahindra & Mahindra.

Tata's offer for Jaguar and Land Rover is said to be in the range of $1.8 billion to $2.2 billion, the Financial Times reported.

The two models went on the block last year as part of a move to focus on the Ford brand.