Hyundai Mobis hits near 1-year high on auto chip business, robot firm deals

Hyundai Mobis

14/12/2020 03:49

** Hyundai Mobis Co Ltd  012330.KS  shares rise as much as
7.8% to their highest since Dec 27, 2019
    ** Hyundai Mobis, along with other affiliates of Hyundai
Motor Group, and its chairman agreed to buy a controlling stake
in Boston Dynamics from SoftBank Group Corp  9984.T  in a deal
that values the U.S.-based robot maker at $1.1 billion, the
group said on Friday  urn:newsml:reuters.com:*:nL1N2IR04X
    ** Hyundai Mobis also said on Friday it decided to acquire
unlisted affiliate Hyundai Autron's automotive semiconductor
business
    ** This will make Hyundai Mobis the sole supplier of
integrated semiconductor/controller systems to Hyundai Motor
Group cars, and the recent M&A shows that Hyundai Mobis is at
the center of the group's changing business structure under
Chairman Euisun Chung, raising investor hopes about further
share rises, analysts said 
    ** The broader KOSPI market  .KS11  was trading up 0.2% as
of 0336 GMT


 (Reporting by Joyce Lee)
 ((jungyoon.lee@tr.com; +82 2 6936 1467;))