Amtel-Vredestein Set to Sell Controlling Interest in AV-TO

Russian news sources are reporting that Amtel-Vredestein is selling the controlling stake in its less than profitable retail network. One source named Michelin as a possible buyer. If Michelin does buy the controlling interest, analysts are suggesting the chain may stop selling Amtel’s tyres at its points of sale, which will affect roughly 20 per cent of Amtel sales. Despite this, Amtel looks likely to hold onto shares in the retail chain.