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Ford Could Sell Aston Martin This Week

Ford Motor could announce the sale of its Aston Martin luxury performance cars unit for more than 450 million pounds ($865 million) as early as this week, a source familiar with the matter said on Monday.

This one is a sign of the times: As Internet-connected TVs proliferate, and cable companies increasingly tighten the screws on customers to squeeze more money out of them, an increasing number of customers are cutting ties with their old cable companies and keeping the set-top boxes. These are pretty pricey little items, so Redleaf reports that companies will pay you $500 to $1,000 per week to recover those boxes. A on Craigslistfor one of these jobs called the technicians “road warriors” and counted "street smarts" among the skills required.Road warriors? Paying handsomely to recover a precious box? Sounds like the plot to the next movie!
Photo: Huntstock | Getty Images
This one is a sign of the times: As Internet-connected TVs proliferate, and cable companies increasingly tighten the screws on customers to squeeze more money out of them, an increasing number of customers are cutting ties with their old cable companies and keeping the set-top boxes. These are pretty pricey little items, so Redleaf reports that companies will pay you $500 to $1,000 per week to recover those boxes. A on Craigslistfor one of these jobs called the technicians “road warriors” and counted "street smarts" among the skills required.Road warriors? Paying handsomely to recover a precious box? Sounds like the plot to the next movie!

Formula One team Prodrive, working with Egypt's Naeem investment bank, is frontrunner to buy the business although other bidders such as U.K. buyout firm Doughty Hanson are still in the process should talks fall through, the source said.

The timing of the deal could also yet slip, the source added.

Doughty Hanson and Syrian-born property tycoon Simon Halabi also submitted second-round offers for Aston Martin in an auction being run by investment bank UBS, sources familiar with the matter said last month.

Ford said last year it would sell all or part of Aston Martin to raise funds for other businesses.

Aston Martin is on solid financial footing, a top Ford official said in January, adding that sales of the British car made famous by the James Bond spy movies increased by around half last year to about 6,500 units.

Ford declined to comment.

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