Continental is considering selling its tyre unit and Contitech division.

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The company has hired investment bank Perella Weinberg to find buyers, Financial Times Deutschland reported.


An unnamed source said the company is considering whether such a move is possible given current market conditions.


Schaeffler Group, which now controls more than 90% of the stock in Continental, has said it plans to file for European Union antitrust approval next week.


According to Bloomberg News, Schaeffler made a first application in August but the European Commission asked for additional data.


Schaeffler can complete its takeover offer within eight days of receiving approval from the Commission.


Yesterday, Financial Times Deutschland said investors were concerned Schaeffler’s acquisition of Continental may be at risk because it had not registered the deal with EU antitrust authorities as planned by 15 August.

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