Conti Amtel Deal “Has Died”

It appears Continental AG will not takeover Russian-Dutch tyre manufacturer Amtel-Vredestein after all. “The deal has died for now,” reported the Frankfurter Allgemeine newspaper, quoting a Continental supervisory board member. The source reported that the negotiations did not even reach fulfilment of the Due Diligence process as certain questions were not sufficiently answered. No details of what these might have been were published. The Continental press office has not made an official comment on the subject. The news comes after months of speculation following Russian news reports that Amtel boss, Alexei Gurin approached Continental for negotiations. Then reports suggested the deal could have been completed by March 2007.