Kuwait’s sovereign wealth fund, the Kuwait Investment Authority (KIA), has denied holding talks to invest in supplier Continental.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“The Kuwait Investment Authority announced that recent news regarding talks with German auto parts supplier Continental AG was incorrect and baseless,” KIA said in a statement cited by Reuters.
German business weekly WirtschaftsWoche had said on Saturday the parts maker was in talks with KIA over possible investment.
The report boosted Continental shares on Monday but they fell on Tuesday.
