Speaking with Spain’s El Mundo newspaper, Fleming revealed that talks with several bidders were “very advanced” and that “in two months at the most, we’ll know which of the groups interested in the brands will be their new owner.”
The number of parties interested in buying the British marques dropped sharply following a slump in the credit market back in August.
India’s Tata is the number one contender in the sale followed closely by private equity companies One Equity Partners and even Cerberus Capital Management.