April 27, 2018 / 2:17 AM / 10 months ago

Elliott says looks forward to dialogue with S.Korea on Hyundai

SEOUL, April 27 (Reuters) - U.S. activist fund Elliott Management said on Friday that it expected to have dialogue with South Korea’s antitrust watchdog over Hyundai Motor Group’s restructuring plan.

The fund’s comments come after head of the South Korean antitrust watchdog said the recent proposal by Elliott for the auto-to-steel giant’s corporate structure could be in breach of the country’s fair trade act.

Hyundai Motor earlier announced a plan to cancel $890 million worth of its treasury shares.. Elliott did not comment on the announcement. (Reporting by Ju-min Park; Editing by Edwina Gibbs)

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