The prospects of an alliance between Bridgestone and Continental AG took a hit, following a denial from the Japanese group that it was interested in a deal with its German rival.
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According to a report by the Financial Times Deutschland, Bridgestone said it had not been approached about a deal and saw no purpose in an alliance anyway.
Earlier this month, Schaeffler Group said it was sticking to its timetable for the takeover of Continental, despite the economic crisis.
It was also reported this month that Continental was considering selling its tyre unit and Contitech division. The company was said to be considering whether such a move was possible given current market conditions.
