Abu Dhabi’s Mubadala Development Company (MDC) has denied a report in Britain’s Observer newspaper that it is planning a bid for luxury car brands Jaguar and Land Rover.
Mubadala chief operating officer Waleed Ahmad Al Mokarrab Al Muhairi told Gulf News “That is not true.”
The Observer claimed yesterday that MDC and Dubai International Capital (DIC) were planning a bid for one or both companies, in a deal that could be worth up to $6bn.
It reported that the two state-owned funds could be met with less hostility from British unions, which have voiced concern over the possibility that a private equity group may buy the carmakers.
A spokesperson for DIC told Gulf News “we do not comment on market speculation.”
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