Continental AG bids nearly $15 bln for VDO -magazine

Newswire

FRANKFURT, May 23 (Reuters) - German car parts supplier Continental AG is bidding nearly 11 billion euros ($14.8 billion)for the VDO automotive electronics business of Siemens , Germany's manager magazin reported. In a summary of a story to be published in its May 25 edition the financial magazine said that U.S. rival TRW Automotive Holdings Corp. had also made an indicative bid for the business, which posted 10 billion euros in revenue in the last fiscal year. Private equity firms KKR ...

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