November 13, 2018 / 12:56 PM / a month ago

Hedge fund Elliott says Hyundai Motor Group has too much capital

Nov 13 (Reuters) - U.S. activist hedge fund Elliott Management said on Tuesday Hyundai Motor Group was "grossly overcapitalized" and shareholder returns from the Korean automotive group were lagging industry standards.

Elliott, which has been making restructuring proposals for the group, also called on Hyundai Motor Group's board to return excess capital to shareholders. (Reporting by Arunima Banerjee in Bengaluru; Editing by Sai Sachin Ravikumar)

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