Birla Tyres plant acquisition talks ‘speculative’, says Kesoram Industries

An article published by Indian financial daily The Economic Times, which claims MRF Tyres is in advanced discussions with Kesoram Industries over the purchase of its tyre making facility in Laksar, Uttrakhand state, has been labelled “purely speculative in content” by Kesoram Industries. In a letter sent to the Bombay Stock Exchange on 20 January, company secretary Gautam Ganguli stated that the news of negotiations was “based entirely on speculation and conjecture.” Kesoram sent a similar letter to the newspaper a day earlier.

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