Continental A.G. has ended discussions with a private equity investor regarding the investor's interest in taking over the German tire, rubber and vehicle parts maker.
Conti said it did not enter into any commitments in relation to the bid and decided to put an end to the process to dispell any rumors in the market.
The Hanover-based company did not reveal the identity of the bidder and said the termination was by ``mutual agreement.''
``We regard this interest of private investors as a confirmation of the attractiveness of Continental and its perspective in the future,'' Conti Chairman Manfred Wennemer said in a prepared statement.
``Continental continues to demonstrate that the company can orientate itself strategically to deal with new challenges and adapt to the ever-changing conditions presented by globalization.''