Continental's banks against Schaeffler deal-source

Newswire

FRANKFURT, May 27 (Reuters) - The banks of German tyre maker and auto parts group Continental AG oppose a deal that would see Continental taking over its peer Schaeffler, a source close to the matter told Reuters on Wednesday. Such a move would lead to a significant increase in debt and therefore higher risks for Continental's banks, the source said. Schaeffler said last week it was mulling a plan that could see it merge with Continental as the junior partner, in a reversal of last ...

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