09:45 AM EDT, 04/08/2024 (MT Newswires) -- Apple's ( AAPL ) supplier Pegatron is in advanced talks to turn over control of its iPhone production site in India to Tata Group, Reuters reported Monday, citing two unnamed with direct knowledge.

Under the terms of a potential deal, Tata will own at least 65% stake in a joint venture that will operate the Pegatron facility, the report said, citing one of the sources.

Tata will operate the joint venture through its unit, Tata Electronics, while Pegatron will provide technical support, the report added, citing one of the sources.

Apple ( AAPL ) declined Reuters' request for comment on the matter.

Apple ( AAPL ), Pegatron, and Tata Group did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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