Hyundai Mobis drops proposed spin-off plan - source

Hyundai Glovis

21/05/2018 08:23

SEOUL, May 21 (Reuters) - The board of South Korea's Hyundai
Mobis Co Ltd  012330.KS  has dropped its current plan to spin
off part of its business and combine it with Hyundai Glovis
 086280.KS , a person with direct knowledge of the matter told
Reuters on Monday. 
    The company also cancelled a May 29 shareholders' meeting to
vote on the proposed spin-off merger, said the source, who
declined to be identified as he was not authorised to speak to
the media. 
    A Hyundai spokeswoman did not immediately provide a comment.

 (Reporting by Hyunjoo Jin
Writing by Joyce Lee
Editing by Darren Schuettler)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))