Nexen says Michelin talks have re-opened

ERJ staff report (DS)

Seoul - In a brief stock exchange filing, Nexen Tire has said it has re-opened discussions with Michelin in respect of a possible joint venture, and expects those discussions to continue.

The filing, dated 8 June at 15:34 on the Korean Stock Exchange in Seoul, did not give details and said initial discussions did not meet the requirements of Nexen.

The announcement follows speculation six months ago about on-going discussions, which were eventually denied by both sides.

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Stock Exchange announcement from Nexen on KRX (search on “NEXENTIRE [002350]” (Korean language)