UPDATE 1-Siemens opens VDO to buyers, prefers IPO -source

(Reuters) - A Siemens spokesman said the German conglomerate still
planned a partial IPO for VDO after German business daily
Handelsblatt reported that would-be buyer Continental
had begun due diligence on the firm, which could fetch as much
as 10 billion euros .




Handelsblatt said Siemens was opening VDO's books for three
interested parties, which included U.S. car parts supplier TRW
and a private equity bidder that could be Permira
[PERM.UL] or KKR [KKR.UL].


Read more at Reuters.com Mergers News