UPDATE 2-Continental AG cap hike passes, CEO loses battle

Newswire

* Board backs plan for capital hike of up to 1.5 bln eur * Conti to then start debt restructuring talks with lenders * CEO Neumann loses support of shareholder reps on board * Schaeffler needs simple majority to axe him as CEO * Continental shares indicated 5.9 pct lower (Adds Continental shares premarket data, trader comment) HANOVER, Germany, July 31 (Reuters) - Continental AG won a vote to repair its finances but will likely lose its second chief executive in less than a year ...

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