HAMBURG (Reuters) - Continental AG is still looking at its corporate structure as part of a review launched more than a year ago, a source close to the matter said on Tuesday after a media report on a possible breakup of the car parts maker pushed its shares to a record high.
A possible separation of Continental's business related to combustion engines also remains on the agenda as the auto industry shifts its focus towards electronic vehicles, the person said.
Bloomberg earlier reported Continental AG was in exploratory talks with advisers on a major overhaul or even a breakup of its business, citing people familiar with the matter.
Shares in Continental jumped as much as 7.9 percent to a record high of 257.40 euros following the report.
Continental declined to comment.
The group has been considering various options for its business since 2016 and last year decided to keep its powertrain spanision after an internal review.
Rivals such as Delphi and Autoliv have spun off spanisions to simplify their corporate structures and react to the changes in technology.
(Reporting by Jan Schwartz; Writing by Arno Schuetze and Maria Sheahan. Editing by Kathrin Jones and Jane Merriman)
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