Hyundai Mobis says withdraws proposed restructuring plan

Hyundai Glovis

21/05/2018 09:10

SEOUL, May 21 (Reuters) - South Korea's Hyundai Mobis Co Ltd
 012330.KS  on Monday said it has dropped a restructuring plan
due to "uncertainty" about the plan receiving shareholder
approval.
    "Hyundai Mobis will withdraw the proposal in its current
form in order to have an opportunity to supplement and improve
the restructuring plan, including the proposed spin-off merger,"
Chief Executive Lim Young-deuk said in a letter to shareholders.

 (Reporting by Hyunjoo Jin)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))