May 21, 2018 / 8:13 AM / 3 months ago

Hyundai Mobis says withdraws proposed restructuring plan

SEOUL, May 21 (Reuters) - South Korea’s Hyundai Mobis Co Ltd on Monday said it has dropped a restructuring plan due to “uncertainty” about the plan receiving shareholder approval.

“Hyundai Mobis will withdraw the proposal in its current form in order to have an opportunity to supplement and improve the restructuring plan, including the proposed spin-off merger,” Chief Executive Lim Young-deuk said in a letter to shareholders. (Reporting by Hyunjoo Jin)

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