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Hero Group said on Tuesday a television report that Japan's Honda Motors was selling its stake in motorcycle joint venture Hero Honda was incorrect.
"The news report is incorrect and speculative," the group said in a statement.
"We have already conveyed earlier that the Hero Group and Honda Motor have for years enjoyed a very cordial and fruitful relations ... and there has been no change in the relationship in any manner," it added. Shares in Hero Honda recouped some losses after falling more than 6 per cent on Tuesday after ET NOW reported that Hero and KKR were in talks to buy out Honda Motor's stake.
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