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The Financial Times is reporting today that Ford has appointed a consortium of three international banks to handle the sale of its Jaguar and Land Rover businesses.

The three banks are Goldman Sachs, Morgan Stanley and HSBC and the FT says that the discussions about the sale are in their early stages. Volvo is said not to be involved.

Jaguar was bought by Ford in the late 1980s and has long struggled to achieve profitability. In recent years, the group has integrated the allegedly profitable Land Rover business more closely with Jaguar, but question-marks have remained over the long-term prospects for the businesses within the Ford group.

Ford sold Aston Martin, its other upmarket UK marque, earlier this year to a consortium led by Prodrive chief David Richards, and another private equity deal may be on the cards for Jaguar and Land Rover.

Ford has been struggling with its own debt mountains for the past couple of years, but denied in March that Jaguar and Land Rover were for sale. It has not confirmed the FT report.

[LATER: Ford appeared to confirm the reports at a meeting with UK parliamentarians on Monday evening, but unofficial indications are that a formal statement will not be made until later in the week.]

Renault and Fiat, both identified as possible buyers for the two companies, have both denied any involvement. Alchemy Partners, the UK venture capital group that tried to buy the ailing Rover Group in 2000, has also denied any interest.