Russia's GAZ Group (GAZA.RS) said Wednesday it's definitely not interested in buying Ford Motor Co.'s (F) luxury Jaguar brand as it goes against GAZ's strategy of tapping Russian and international commercial vehicles markets.
Earlier this summer, GAZ bought a battered U.K.-based light commercial vehicle maker LDV and hired an ex-Ford official Martin Leach as head of GAZ International, sparking rumors in the U.K. press that the company was also interested in buying Jaguar.
«I understand where that rumor is coming from - we have the financial resources and we have good managers," Matveyeva said, referring to GAZ's cash-rich shareholder, financial-industrial group Basic Element. "But the truth is, we're not interested. We see no synergies for us in buying Jaguar and we try to be very careful with our acquisitions.»
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