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: Saturday April 8 7:50 PM ET
: Quandt Family Plans Sale of Its BMW Stake
: LONDON (Reuters) - Germany's Quandt family, the largest shareholder in Munich-based automaker BMW AG, plans to sell its stake in the company, Britain's Sunday Times newspaper said.

: Citing car industry insiders, the newspaper said the Quandts were negotiating with Ford Motor Co and Volkswagen AG to sell their 48 percent stake for ``at least'' 20 billion pounds ($31.59 billion).

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: The newspaper also quoted an unnamed BMW executive as saying Ford was in turn negotiating with Volkswagen to divide up the BMW marques between them -- Ford would buy BMW and Volkswagen would snap up luxury carmaker Rolls-Royce.

: Last month, BMW ditched its loss making British-based Rover car company and has since been seen as a possible target for a takeover bid in the consolidating global car industry. Ford bought utility vehicle maker Land Rover from BMW at the same time.

: The Quandt family and BMW officials have said repeatedly in recent weeks that BMW was not for sale.

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