Siemens on Friday repeated that it would float its VDO automotive electronics unit in an initial public offering (IPO) by the end of September.
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Siemens said it would retain majority ownership and operational control of the unit after the IPO, according to a Reuters news agency report.
The report noted that Continental has made an indicative bid of over EUR10bn ($US13.4bn) for VDO, though Siemens has said that offer is not high enough.
