Hyundai Motor, Kia Motors to cut stakes in steel affiliate to meet corporate ownership norms in S. Korea

Hyundai Motor, Kia Motors to cut stakes in steel affiliate to meet corporate ownership norms in S. Korea

Hyundai Motor and Kia Motors have been ordered to sell a combined 6.6 percent stake worth 461 billion won ($394 million) in steelmaking affiliate Hyundai Steel by Thursday to meet conglomerate ownership rules.

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