Ruia Group to Acquire TCI?

According to media reports, Dunlop India and Falcon Tyres owner the Ruia Group is in negotiations to acquire the government owned Tyre Corporation of India Limited (TCI). The West Bengal based TCI is said to currently possess only a limited tyre manufacturing capacity, and the government began the process of divesting the ailing manufacturer in 2007. The potential price tag of such an acquisition has not been disclosed.