Continental to issue new shares to fund VDO deal

Newswire

FRANKFURT, Oct 30 (Reuters) - Germany's Continental AG plans to issue up to 14.6 million new Continental shares to help fund the acquisition of Siemens automotive electronics unit VDO, the company said on Tuesday. Pricing and allocation of the new shares is expected to be completed by Oct 30, the company said in a statement. Earlier this year, Continental announced plans to buy Siemens's VDO unit for 11.4 billion euros ($16.43 billion). Continental shares closed with a gain of 2.37 ...

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