Tata in talks to buy Wistron's India facility for up to $613 mln -report
Tata Group is in talks to buy Wistron Corp's 3231 only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions.
If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL top vendors in India – the report said, citing sources close to Tata.
Tata Electronics, a unit of salt-to-software conglomerate Tata Group, already supplies components to Apple from its Hosur unit in Tamil Nadu, which neighbours Karnataka, according to the report.
Tata, Wistron and Apple did not immediately respond to Reuters' e-mailed requests for comment.
Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.