LONDON — Jaguar PLC, British luxury auto maker, said today it is holding talks with General Motors Corp. about a possible cooperative operating agreement.
Jaguar said that General Motors is considering buying a minority stake in Jaguar as part of such an agreement.
The news confirmed the expected tug-of-war between GM and Ford Motor Co. over Jaguar.
The announcement was made after London's Stock Exchange closed. Jaguar finished at $10.82 a share, down 73 cents. Trading has been very heavy since Friday, when Ford, which previously owned 1% of Jaguar, received U.S. regulatory clearance to buy up to 15%.