02/13/2009 10:15:42 - Michelin: Would Look At Continental If Put Up For Sale
PARIS -(Dow Jones)- French tire maker Michelin (12126.FR) said Friday that it would take a look at German automotive supplier Continental AG (CON.XE) if the company ever comes back on the market. Speculation is mounting that Schaeffler, which took control of Continental last summer, may have to put Continental back on the market because it is facing a liquidity squeeze. Co-managing partner Michel Rollier told a press conference that if Schaeffler decides to look for a buyer for Continental "obviously Michelin wouldn't be absent. I can't tell you more than that." Rollier went on to point out that in the current depressed state of the industry "there are many smaller tire companies in the world, and it's not impossible that the crisis can lead to mergers. Here too, we certainly won't absent." -By David Pearson, Dow Jones Newswires; +331 4017 1740, david.pearson@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=vrSDNYqkms2VBJomUXO6aQ%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires February 13, 2009 04:15 ET (09:15 GMT) © 2009 Dow Jones & Company, Inc. |