April 4, 2018 / 1:27 AM / Updated 2 hours ago

Hyundai Motor shares gain after Elliot calls for better governance

Reuters Staff

1 Min Read

SEOUL (Reuters) - Shares of Hyundai Motor Co (005380.KS) gained 4.6 percent after a unit of U.S. activist hedge fund Elliott Management said the company needed to do more to improve governance, while welcoming the auto maker’s decision to streamline its structure.

A Hyundai Motor's booth is seen near the Pyeongchang Olympic Plaza in Pyeongchang, South Korea, February 11, 2018. REUTERS/Kim Hong-Ji

Hyundai Mobis, Hyundai's parts making affiliate, had jumped more than 5 percent as of 0014 GMT, versus the wider market's .KS11 0.1 percent fall.

    Reporting by Dahee Kim and Ju-min Park; Editing by Stephen Coates

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