Continental Stock Falls 2.4%

Continental AG share fell 2.4 per cent today after a Reuters report suggested Conti’s banks oppose a the reverse takeover plan of current owner Schaeffler discussed in the press. According to the news, the biggest problem for the banks is the “significant increase in debt and therefore higher risks” for lending banks. Meanwhile Financial Times Deutschland reported that Continental’s banks are planning to set up a steering committee to represent their interests.