The two companies had said in November that they were in discussions about a close tie-up. A Russian newspaper had reported that Continental was considering taking a majority shareholding the company.
According to dpa-AFX, Amtel-Vredestein had said that the talks only concerned a cooperation in the Russian market.
Continental has not openly discussed the content of any discussion with Amtel-Vredestein and would not confirm to dpa-AFX whether the talks were on-going or not. A Moscow spokesperson for Amtel-Vredestein said the talks were continuing, despite rumours that Continental had pulled out.