S.Korea's Hyundai Motor, Hyundai Mobis climb after report of group restructuring

Hyundai Glovis

08/08/2018 01:51

** Shares of Hyundai Motor Co  005380.KS  and Hyundai Mobis
Co Ltd  012330.KS  climb after media report that Hyundai Motor
Group may undertake restructuring aimed at improving corporate
governance 
    ** Owner families of Hyundai Motor Group may sell about 10
pct of their stake in Hyundai Glovis, reports Chosun Biz 
    ** Restructuring may loosen owner family's control through
complex cross-shareholding, report adds
    ** The Fair Trade Commission had urged the group to reduce
the cross-shareholding ownership structure 
    ** Hyundai Motor gains 3 pct, while Hyundai Mobis, a part
supplier of the automaker, rises as much as 6 pct
    ** Shares of Hyundai Glovis  086280.KS  fall more than 8 pct
    ** The broader KOSPI market  .KS11  was trading down 0.15
pct as of 1229 GMT    

 ((hayoung.choi.thomsonreuters.com@reuters.net))