Schaeffler not interested in Conti auto division, CEO tells paper

BERLIN (Reuters) - German machine and car parts maker Schaeffler is not interested in a takeover of Continental's automotive division, CEO Klaus Rosenfeld told the Handelsblatt newspaper on Tuesday, adding that the company had "completely other priorities".

Continental said on Monday it was exploring a spin-off of its automotive division, which has been struggling for several years with low profitability.

(Writing by Rachel More; Editing by Madeline Chambers)