India's Hinduja group eyeing France's Valeo

Indian conglomerate Hinduja is in talks to buy a controlling stake in France's automotive supplier Valeo for up to 1.5 billion dollars, a newspaper report said Monday.
Officials from Hinduja's bus and truck maker Ashok Leyland met representatives from Valeo in Paris last week to discuss the offer, the Business Standard newspaper said.
A Hinduja group spokesman in Mumbai said the report was "speculative" and declined further comment.
Valeo has 125 production sites and a presence in 28 countries.