Schaeffler merger with Continental possible in 2011

Newswire

MUNICH, July 28 (Reuters) - German ball bearings and clutch maker Schaeffler could begin at the end of next year a merger process with Continental AG , the auto parts supplier in which it controls just over 75 percent. "That could be the case," said Schaeffler Chief Executive Juergen Geissinger on Tuesday evening, when asked by reporters. The CEO of the highly-indebted bearings manufacturer said the company could operate thanks to sufficient liquidity and was not hurrying to pay down its ...

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