Kumho Talks Come To Nothing

The talks between the Kumho Group and the US consortium of JP Morgan Chase and the Carlyle Group, aimed at selling Kumho’s tyre division, have broken down. The disagreement was over prices, with a Kumho spokesman quoted as saying that the consortium’s offer price was “really cheap” and unacceptable. Earlier in the year, the two sides signed a memorandum of understanding to sell 80 per cent of the Kumho Tyre, but this expired in November with no deal finalised.