UPDATE 1-Continental to buy out Phoenix minorities

Newswire

(Adds spokesman, background, shares) FRANKFURT, Oct 28 (Reuters) - German tyre and automotive parts group Continental AG will enter a domination agreement with newly acquired Phoenix and merge the company with its ContiTech unit, the group said on Thursday. A Continental spokesman said he could not yet comment on how much the company would offer Phoenix minority shareholders to sell under the domination accord. Continental said in a statement that the measures would be initiated after ...

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