Schaeffer says to hand in takeover draft to EU soon

Schaeffler said in a statement that it delivered a first draft to the EU Commission on Aug. 22, but the EU asked Schaeffler to rework the draft using Continental's own figures rather than Schaeffler's estimates.

The EU also asked Schaeffler to list possible product relations in neighbouring markets and to support such statements with the relevant figures.

"Such a listing is time consuming, because this information is not centrally available at Continental," Schaeffer said.

On Monday, Schaeffler insisted that its 12 billion euro ($16.3 billion) takeover offer for Continental remained on track despite market turmoil.