1323 GMT - Continental's management deserve credit for moving aggressively to unlock value for investors, Citi analysts write. They first moved to spin off the automotive unit and have now decided to seek a separation of the ContiTech business. The bank therefore sees Tuesday's three percentage point share price outperformance versus the Stoxx Europe 600 automobiles and parts index as justified. Continental will work to become a high-margin pure-play tire company, Citi adds. The spinoffs should also support a faster deleveraging at the remaining company, which should further the appeal of the equity story, it says. Shares fall 4.1%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 09:23 ET (13:23 GMT)
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