London - The PSA Group said on Thursday that it was ready to consider potential tie-ups, after the French carmaker's shares briefly rose on a report that it was in advanced talks with Tata Motors to acquire Jaguar Land Rover (JLR).
The Peugeot maker declined to comment on a report by British news agency The Press Association that a deal was imminent. Tata denied the report, which cited sources referring to an internal "post-sale integration document" describing cost savings.
"As a matter of policy, we do not comment on media speculation, but we can confirm there is no truth to these rumours," said a spokesperson for the Indian carmaker, which owns 100 percent of JLR.
However, PSA spokesman Alain Le Gouguec said: "On principle we are open to opportunities that could create long-term value for PSA Group and its shareholders."
PSA is setting new profitability records even as it continues to integrate Opel/Vauxhall, acquired from General Motors in 2017, and has previously signalled openness to further acquisitions.