April 23, 2018 / 11:37 AM / a year ago

Hyundai Motor says to continue communications with investors, including Elliott

The logo of Hyundai Motor is seen during the 2017 Seoul Motor Show in Goyang, South Korea, March 31, 2017. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - Hyundai Motor Group (005380.KS) said it would continue to communicate with shareholders and investors, including Elliott Management, over its proposed restructuring plan.

“Hyundai Motor Group will continuously communicate with shareholders and investors around the world, including Elliott Management, to explain the underlying goal and needs of the proposed restructuring plan,” it said in a statement on Monday.

U.S. activist hedge fund Elliott Management said earlier Hyundai’s restructuring plan to simplify its shareholding structure was not enough and recommended it create a holding company, among other measures.

Reporting by Ju-min Park; Editing by Nick Macfie

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