Schaeffler tiring of Continental?

25/09/12 19:21 CET

| |

German automotive parts supplier Schaeffler has taken its debt restructuring a step further at the expense of its partner – Continental by selling part of its stake in the tyremaker.

Schaeffler had acquired 90 percent of Continental in 2008 in a hostile takeover bid, leaving it more than 10 billion euros in debt and is continuing to try to get out from under that.

For details, watch our Behind Markets report.

More about: Debt crisis, German economy, Markets, Takeover

| |

JavaScript is required in order to view this article’s accompanying video

Community tensions rise as police investigate London soldier murder

Flowers have been laid at the scene where a British soldier was killed near the Woolwich army barracks in south east London. Police are still trying to…

Stockholm ablaze with youth anger

A fourth night of rioting in the Swedish capital saw groups of people, many of them young, setting…

Lagarde questioned by Paris court over payout to French…

International Monetary Fund (IMF) chief Christine Lagarde has arrived at a court in Paris to be…

Syrian opposition meets in Istanbul to discuss peace talks plan

Members of Syria's opposition coalition are in Istanbul to decide whether they will take part in talks, which aim to bring an end to the country's…

Global stock markets slump

Investors worldwide sold shares on Thursday after they were spooked by unexpected weakness in China's economy, with factory activity there falling in May. In addition business activity surveys for the same month showed the eurozone headed…