Tata Motors eyes stake in Ferrari

Milan: Indian businessman Ratan Tata would like to buy a stake in Fiat's luxury sports car unit Ferrari, he was quoted as saying in an interview with Italy's L'Espresso weekly news magazine.

Tata has an alliance with Fiat for his India auto operations. He is also a Fiat board member and chairman of automaker Tata Motors.

"I have two passions in my life, cars and aircraft. I have always dreamed of being able to be a fighter pilot. And I confirm the wish to participate in Ferrari's shareholding," Tata told L'Espresso in its latest issue.

"Luca di Montezemolo [both Fiat and Ferrari chairman] has invited me to look around in Italy because his country offers a lot of opportunities in the design and luxury sectors," he said.

Tata said such companies as furniture makers Capellini and Poltrona Frau "offer the possibility of working together, in India and in Italy".

In 2006, Fiat hiked its stake in Ferrari to 85 per cent, buying back stakes sold to banks.

As Tata Motors readies itself to buy Ford Motor's luxury British brands Jaguar and Land Rover in the next two weeks, it is preparing the launch of the Nano, a cheap car on the other end of the spectrum for poor Indian families.