Sunday, Jul 19, 2009
FRANKFURT (Dow Jones)--Kuwaiti investors have recently initiated contact with the chief executive of automotive supplier Continental AG (CTTAY), reports WirtschaftsWoche, citing unnamed sources.
Contact with CEO Karl-Thomas Neumann is at an early stage, according to the report. Neither Continental's banks nor those of Continental's main shareholder, Schaeffler Group, are involved in the talks yet, writes the magazine.
The potential investors have met the governor of the state of Lower Saxony, where Continental is headquartered, to discuss the political feasibility of an investment, according to the report.
A Continental spokesman Sunday declined to confirm the talks, saying only that Continental would continue to be open to contact with potential investors. "We are after all a listed company," he said.
Magazine Web site: http://www.wiwo.de
-By the Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
(END) Dow Jones Newswires
19-07-09 1158GMT
