M&M in talks to buy Peugeot's scooter unit: Bloomberg

Mahindra & Mahindra Ltd (M&M) , India's largest utility vehicle maker, is in advanced talks to buy PSA Peugeot Citroen's scooter business, Bloomberg reported on Tuesday, citing three unnamed sources familiar with the matter.

An announcement may be made soon, Bloomberg reported, citing two of the people.

A PSA spokesman declined comment. A Mahindra spokesman said the company would not comment on market speculation.

French carmaker Peugeot had denied reports in the Times of India newspaper in August of a partnership with Mahindra to share technology, and production facilities in France and India.

(Reuters)