Tata eyes Ferrari stake

India's Tata Group, which is in final talks to buy Ford Motor Co's Jaguar and Land Rover luxury brands, denied on Monday a magazine report that it was interested in a stake in Ferrari. Italy's L'Espresso weekly news magazine on Friday had quoted Chairman Ratan Tata as saying in an interview he would like to buy a stake in Fiat's luxury sports car unit Ferrari.

"Tata Group wishes to clarify that the statement has been misquoted and taken out of context," a spokesman for Tata Group said on Monday.

"The report is completely untrue," he said in a statement.