Continental Shares Gain 2.2%

Shares in Continental AG went up 2.2 per cent today (15 October) after majority shareholder, Schaeffler Group said it had purchased 834,000 shares in the German tyre and auto parts specialist as part of its takeover easing worries the deal could run into financing difficulties. “Both Schaefler’s announcement yesterday that it is not having trouble financing the Continental deal and news today that it has purchased some 830,000 odd shares in Continental is helping the stock.

Schaeffler is going ahead with the deal and it is creating support for Continental stock in the market.” a Frankfurt-based trader told Interactive Investor..