CTTAF - Continental AG: The Powertrain Spin-Off Is Not Exactly Great News But Still Positive Given The Circumstances
Continental AG (CTTAF, CTTAY) will spin off its powertrain division - which is now called Vitesco Technologies - to its shareholders next year, pending the approval of the general meeting (which can be considered a mere formality). The spin-off first and foremost is a symptom of an unpleasant environment. Thus the move should be understood as a cautionary signal. Nonetheless, I believe that given the circumstances, it is in the best interest of Continental shareholders. I will explain my thesis in more detail below.
Vitesco Technologies
First, one should take a look