Investor: Conti Takeover Project Dead
An investor involved in takeover negotiations with Continental earlier this year (Philipp Schoeller of General Capital Group) has denied he has any interest in pursuing the plans again. “The project is dead,” GCG co-founder Philipp Schoeller told Reuters, adding: “a resurrection of the project lacks any practical basis”. Continental’s share price rose 2.56 per cent following an earlier WirtschaftsWoche report that suggested Schoeller might again try for a takeover. Schoeller called his remarks to the German business magazine “purely hypothetical”.