Kinetic denies talks with M

New Delhi, May 14 (UNI) Two-wheeler maker Kinetic Motor Company today clarified that the company is not in talks with the Mahindra and Mahindra (M&M) for a stake sale.

''The said news item is purely of speculative nature,'' company said in a statement.

The media has reported that M&M is in talks to acquire Kinetic Motors.

The Pune-based company Kinetic said it is exploring various alternatives to raise funds for its two wheeler business.

However, no definitive agreement has been entered with any investor or Mahindra&Mahindra Ltd, it added.

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