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Continental Considers Major Overhaul and Possible Breakup

  • German car-parts maker says consultations are early, wide open
  • People familiar with matter have said breakup is possible
Bloomberg business news
Continental AG is said to be mulling an overhaul or breakup. Bloomberg’s Taylor Riggs reports.(Source: Bloomberg)
Updated on

Continental AG is holding exploratory talks with advisers on possible changes to its structure, a move people familiar with the matter said could amount to a major overhaul and potential breakup of the German auto-parts supplier.

The company is in the “early stages” of analyzing its organization with the aim of becoming more flexible, according to a statement on Tuesday. While the review is “wide open” and no decisions have been made, Chief Financial Officer Wolfgang Schaefer said in a subsequent telephone interview that the firm may provide an update within six months.