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Old 06-22-2007, 01:00 PM
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Arrow Nissan-Renault's Ghosn says not interested in Land Rover, Jaguar

TOKYO (XFN-ASIA) - Carlos Ghosn, chief of Japan's Nissan Motor Corp and French automaker Renault , said Wednesday he was not interested in Jaguar or Land Rover, which Ford Motor Corp. may be putting on sale.

Ailing Ford said Tuesday it was considering selling off the two British luxury brands as it undergoes restructuring in its North American operations.

'We are not interested in buying brands,' Ghosn told a news conference after Nissan (nasdaq: NSANY - news - people )'s annual shareholders meeting in Yokohama.

'Why do you want to buy a brand that will cost you millions? How are you going to create the return on this kind of investment? Personnaly I don't think Renault (other-otc: RNSDF.PK - news - people ), nor Nissan, need this today,' he said.

Ford bought Jaguar in 1989 for 2.5 bln usd and Land Rover from Germany's BMW in 2000 for 2.7 bln usd.

Ghosn reiterated that he was not looking for a third partner to enlarge the Renault-Nissan alliance. Talks broke down last year with General Motors (nyse: GM - news - people ).

'Today our shareholders consider that extending the alliance is more a risk than an opportunity,' Ghosn said.

'We are not in talks with anybody. That does not mean that we don't receive phone calls, but we don't answer them.'

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Source: [url=http://www.forbes.com/markets/feeds/afx/2007/06/20/afx3839061.html]Forbes[/url]
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