Continental spin-off Vitesco struggles in market debut


FILE PHOTO: The Vitesco company logo is seen at Continental's pilot location for industry 4.0 applications in Regensburg, Germany, February 28, 2020. REUTERS/Michael Dalder/File Photo

BERLIN (Reuters) - Shares Vitesco Technologies were broadly flat on Thursday in a volatile market debut that highlights the challenges faced by the German auto parts manufacturer spun off from Continental.

The stagnant share price, combined with a drop in the price of Continental's shares compared with Wednesday's close, meant that Continental shareholders were left with a drop in the value of their holdings as a result of the spinoff.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Televisa to merge Sky, cable 'as soon as possible'
EU's Vestager meets French tech firm Mistral AI amid competition concerns
Shein falls under tough EU online content rules as user numbers jump
Google parent Alphabet reclaims spot in $2 trillion valuation club
India's HCLTech misses Q4 revenue estimates
Chipmaker Intel falls as AI competition hurts forecast
Russia's Yandex reports Q1 revenue rise as market awaits spin-off news
Japan to levy big fines with new app rules
Inside Big Tech’s underground race to buy AI training data
Facebook scams demand stricter online rules, Japan lawmaker says

Others Also Read