Apollo Tyres was touted as a potential buyer of Kumho Tires in Korea after the deal with China’s Qingdao fell through, The Economic Times reported on October 2, but the Indian tire manufacturer has now refuted the newspaper’s claims.
An Apollo Tyres’ spokesperson said, “Apollo Tyres strongly denies the story headlined Apollo Back in Kumho Race as Geopolitics Sours China Deal, that appeared in the print edition of The Economic Times on October 2, 2017. The company would like to reiterate that it has no intention of making any attempts to enter the process of acquiring Kumho Tyres, as stated in the story.”
October 3, 2017
