Report: Apollo eyes Kumho purchase

New Delhi – Indian tire maker Apollo Tyres is considering to bid for South Korean Kumho Tire, according to a report by India’s Economic Times on 14 Nov.

The report, quoting “sources” said the Indian company was competing with Chinese rivals including Shandong Linglong Tyre and ChemChina to acquire South Korea’s second largest tire maker.

Apollo declined to comment on the news.

This partly conflicts with Reuters, which reported on 10 Nov that ChemChina had denied being among the bidders for Kumho Tire.

Citing “a source with direct knowledge…

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