​Not keen to re-enter race for Kumho Tire: Apollo Tyres

MUMBAI: Apollo Tyres said on Tuesday they had no intention of making any attempts to re-enter the process of acquiring South Korea’s Kumho Tire and Industries after its sale to a Chinese bidder collapsed.

“Apollo Tyres strongly denies that they are back in Kumho race. The company would like to reiterate that it has no intention of making any attempts to enter the process of acquiring Kumho Tyres,” an Apollo spokesperson said.

ET reported in its Monday’s edition that Apollo is set to re-enter a formal process, launched by Kumho’s creditors to sell the company. Mails were sent to the company spokespersons on Saturday morning but till Sunday press time, there was no response. The story mentioned that fact.