UPDATE 2-Michelin to acquire 10 pct stake in Hankook Tire

Newswire

(Adds stake value, updates share price, paragraphs 3-4) SEOUL, Jan 28 (Reuters) - Global tyre maker Michelin said on Tuesday it would buy a 10 percent stake in South Korea's Hankook Tire to establish a strategic alliance. Hankook is one of the largest tyre makers in South Korea, which ranks as the world's fifth-largest producer of automobiles behind the United States, Japan, Germany and France. Michelin declined to give the value of the planned stake purchase, but a spokesman for ...

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