KUWAIT, July 21 (Reuters) - Kuwait's sovereign wealth fund, the Kuwait Investment Authority (KIA), denied on Tuesday it was in talks to invest in German auto parts supplier Continental AG .
'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.
German business weekly WirtschaftsWoche said on Saturday that the auto parts supplier was in talks with KIA over possible investment.
The report had propelled Continental shares on Monday but the stock was lower on Tuesday, extending declines after KIA's statement.
(Reporting by Rania El Gamal; Editing by Amran Abocar) Keywords: KUWAIT CONTINENTAL/ (rania.elgamal@thomsonreuters.com, +965 2240 89 45, Reuters Messenger: rania.elgamal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'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.
German business weekly WirtschaftsWoche said on Saturday that the auto parts supplier was in talks with KIA over possible investment.
The report had propelled Continental shares on Monday but the stock was lower on Tuesday, extending declines after KIA's statement.
(Reporting by Rania El Gamal; Editing by Amran Abocar) Keywords: KUWAIT CONTINENTAL/ (rania.elgamal@thomsonreuters.com, +965 2240 89 45, Reuters Messenger: rania.elgamal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
