Continental in early talks about corporate restructuring.
Continental said it is in the early stages of talks about a structural overhaul that would make the company more nimble as the car industry transitions to electric and self-driving vehicles.
The auto parts and tyre maker is reviewing options for its future corporate structure and combustion engine business, according to Reuters. Rolf Woller, head of investor relations at Continental, told the news service: “It is wide open, if and which changes could result from these early evaluations. To date there are no plans which could be submitted for approval.”
The statement came in response to a Bloomberg News report that said the firm was talking with advisers about a strategic revamp that could result in creating a holding company and listing its more profitable divisions or combining some operations with competing companies.