Schaeffler fails to find investment partner for Conti

ERJ staff report (DS)

Herzogenaurach, Germany — Schaeffler Group has issued a statement saying it is not a speculator, but it has not yet found an investment partner for its stake in Continental AG.

The statement, issued by owners of the Schaeffler Group, Maria-Elisabeth Schaeffler and her son Georg Schaeffler, was at pains to counter press comment that they gambled with Conti shares, and lost. “We are not “gamblers” who have speculated and lost. … We are no short term oriented financial investors, but rather…

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