Late last week, Nexen Tire Co. said it was no longer considering a hook up with Groupe Michelin.
Previously, Michelin claimed that there had been no discussions toward a possible collaboration. Such rumors cropped up shortly after Michelin sold off its nearly 10% stake in Hankook Tire Co. last month.
On Dec. 9, Nexen said in a regulatory filing that its attempt to set up a joint venture with Michelin has been suspended.