Continental AG prepares up to 1.5 bln eur cap hike

Newswire

FRANKFURT/HANOVER, July 30 (Reuters) - Continental AG will begin preparations to raise fresh equity to improve its sagging finances, the heavily indebted German car parts company said late on Thursday. "The company's supervisory board accepted the proposal submitted by the executive board to prepare a capital increase of up to 1.5 billion euros within the framework of the corporation's authorized capital," Continental said in a statement. Management will also initiate refinancing talks ...

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