Hyundai Motor Denies Reports About Financial Unit Takeovers

Hyundai Motor Co., South Korea's largest automaker, denied Monday earlier media reports that it had been interested in buying two financial units of CJ Group.

The reports were "groundless," Hyundai Motor said in a regulatory filing. Last month, Hyundai Motor and its affiliates signed a formal deal to buy a controlling stake in second-tier brokerage Shinheung Securities Co. (Yonhap)