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Elliott challenges Hyundai Motor for bigger shareholder returns

US fund steps up activity in South Korea after pressuring Samsung

Elliott holds a 3% stake in Hyundai Motor as part of a $1 billion investment in three group companies.   © Reuters

SEOUL -- U.S. hedge fund Elliott is demanding that Hyundai Motor return 12 trillion won ($10.6 billion) to shareholders and implement sweeping reforms, the latest salvo in its campaign to force change at South Korea's largest automaker.

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