Michelin Purchase of Unlikely

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Rumours that Michelin are set to purchase the tyre business of Continental AG, have been scotched by business analysts. Such an acquisition would give Michelin control over 40 percent of the European passenger-car market and 50 percent of the truck tyre market. This would be frowned upon by European authorities. These sentiments were echoed by a spokesperson for Michelin, who said, “If we were approached, we would look at the proposal but we believe that our position in North America and in Europe, given the antitrust regulation, makes it difficult for us to take the tyre division from Continental”.

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