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Rumour of the day: Continental tread carefully
GERMAN automotive supplier Continental has hired an investment bank to help find potential partners for its tyre and rubber business.
"It is less a question of selling it than of finding possible partnerships," a source said yesterday.
Previous reports had claimed that Continental was looking into a possible sale of the business.
Continental, which is the subject of a takeover offer by family-owned bearings maker Schaeffler Group, declined to comment.
Continental has opened the door to a strategic move by reorganising into two main divisions – an automotive business and one for tyres and other rubber parts.
But Schaeffler has reiterated they have no interest in splitting Continental into two divisions.
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Saturday 26 May 2012
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