Amtel-Vredestein seeks ways to reduce debt as talks with Conti end

Moscow - Amtel-Vredestein NV confirmed today that talks regarding cooperation in Russia with Germany's Continental AG have been suspended. Conti was considering buying some or all of Amtel-Vredestein's tyre activities.

Following suspension of the talks A-V said it is seeking other options to reduce debt, one of which is to spin off, its AV-TO retail subsidiary, Russia's leading auto parts tyre distributor and number one tyre retail centers network.