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Continental CEO says seeks more Schaeffler talks

FRANKFURT
Wed Aug 13, 2008 8:03am EDT

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FRANKFURT (Reuters) - German automotive supplier Continental AG (CONG.DE) again rejected rival Schaeffler's 70.12 euro per share hostile takeover offer but remains open for more talks, Chief Executive Manfred Wennemer said on Wednesday.

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Speaking after a supervisory board meeting, Wennemer declined to give any details about the discussions and refused to comment on a newspaper report that Schaeffler was prepared to raise its cash offer to 75 euros a share.

(Reporting by Michael Shields)
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