NEW DELHI, India (Jan. 17)—German tire maker Continental A.G. has notified financial institutions it is not interested in bidding for a stake in Indian tire and rubber product maker Modi Rubber Ltd. until the company divests its non-tire business. Continental, Modi´s technical partner, has been among the front runners to pick up 44-percent equity in Modi Rubber, which is under lock out since 1997. Indian financial institutions had offered in September to sell their 44-percent stake Modi Rubber to a suitable bidder.
Conti not interested in larger stake in Modi Rubber
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