Continental CEO says seeks more Schaeffler talks

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.

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)