May 21, 2018 / 7:28 AM / in a month

Hyundai Mobis drops proposed spin-off plan - source

SEOUL, May 21 (Reuters) - The board of South Korea’s Hyundai Mobis Co Ltd has dropped its current plan to spin off part of its business and combine it with Hyundai Glovis , a person with direct knowledge of the matter told Reuters on Monday.

The company also cancelled a May 29 shareholders’ meeting to vote on the proposed spin-off merger, said the source, who declined to be identified as he was not authorised to speak to the media.

A Hyundai spokeswoman did not immediately provide a comment. (Reporting by Hyunjoo Jin Writing by Joyce Lee Editing by Darren Schuettler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below