Hyundai Mobis up after scrapping restructuring plan

Hyundai Glovis

23/05/2018 01:25

** Shares of Hyundai Mobis  012330.KS , a parts supplier of
automaker Hyundai Motor  005380.KS , rise as much as 3.5 pct to
a three-week high
    ** S.Korea stock market was closed on Tuesday for a holiday
    ** Parent Hyundai Motor Group said on Monday that it
scrapped a restructuring plan  L3N1SS2UW 
    ** Elliott and proxy advisors opposed the plan, which they
said is disadvantageous to Hyundai Mobis investors 
    ** Shares in affiliate Hyundai Glovis  086280.KS , which
were set to benefit from the deal, down more than 4 pct 

 ((Reuters Messaging:
hyunjoo.jin.thomsonreuters.com@reuters.net))