Conti Should Remain European, Says Michelin’s Miraton

Continental AG should remain European, says Michelin. The Dow Jones news service reports that the French manufacturer’s co-managing partner Didier Miraton expressed this opinion to journalists at the sidelines of a Michelin press presentation on October 17.

It is “important for us that Continental remains in Europe,” said Miraton, referring to speculation that Conti may be a potential target for competitors from Asia, such as Hankook Tire. He added that Michelin will conduct talks with interested parties about Continental, but noted that anti-trust regulations represent a considerable obstacle.

“In many countries Michelin plus Continental is way too big, with regard to anti-trust regulations,” he said. “We have been competing with Continental in a very fair manner for 120 years. That means it’s important that our Franco-German industry remains a European industry.