India Apollo Tyres to sell stake in JV to Michelin

Newswire

MUMBAI, Sept 30 (Reuters) - India's Apollo Tyres Ltd. said on Friday it had decided to sell its stake in its joint venture with French tyre maker Michelin . Apollo also said the board of the joint venture company, Michelin Apollo Tyres Pvt. Ltd., had deferred implementation of a project to manufacture truck and bus radials at least by a year. Apollo shares were down 1.3 percent at 291.20 rupees in a slightly weaker market.

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