Reports: “Porsche Not After Conti Stake”

Porsche has denied speculation that it may be interested in buying a stake Continental AG, after an earlier news agency report intimated that Schaeffler Group (Conti’s owner in waiting) may team up with another partner to buy all of Continental. “There is definitely nothing to this,” a Porsche spokesman told Reuters. In the months since Schaeffler bid 75 euros a share for a 49 per cent stockholding in Continental, speculation has linked most premium tyre manufacturers and a collection of investment banks with the tyre and automotive supplier.