Activist investor Elliott builds $1b stake in Hyundai, pushes for changes

Activist investor Elliott builds $1b stake in Hyundai, pushes for changes

A Hyundai Motor Co. next generation fuel-cell electric sport utility vehicle (SUV) stands on display during an unveiling event in Seoul, South Korea, on Thursday, Aug. 17, 2017. Photographer: SeongJoon Cho/Bloomberg

A unit of activist hedge fund Elliott Management said on Wednesday that it holds more than $1 billion of shares in three key affiliates of South Korea’s Hyundai Motor Group, and said more needs to be done to reform the company.

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