From AFX News Limited
MUNICH — Siemens AG said it has not received any convincing takeover proposal from Continental AG regarding Siemens automotive unit VDO.
Siemens CFO Joe Kaser said Continental’s offer is so far "not a competitive alternative" to the IPO which Siemens itself is planning for VDO.
The IPO therefore still remains the option for VDO, he added.
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