Apollo Tyres shares fall on Cooper Tire deal worries

MUMBAI (Reuters) - Apollo Tyres fell as much as 8.7 percent on Friday to its lowest in about 1-1/2 years on continued concerns about a rise in its debt levels due to its $2.5 billion acquisition deal for Cooper Tire & Rubber Co.

Apollo's stock has fallen more than 30 percent since announcing the debt-financed deal for the U.S.-based tyre maker after the markets close on Wednesday.

Apollo shares were down 6.5 percent at 64.10 rupees as of 2:10 p.m. after earlier touching as low as 62.60 rupees, its lowest since January 9, 2012.

(Reporting by Aradhana Aravindan and Abhishek Vishnoi; Editing by Rafael Nam)