SEOUL (Reuters) - Shares of Hyundai Mobis extended losses on Friday falling as much as 3.5 percent on worries its parent group's restructuring plan will disadvantage Mobis shareholders.
Its affiliate Hyundai Glovis , which will acquire two divisions to be spun off from Hyundai Mobis, fell as much as 6 percent, reversing their sharp gains on Thursday.
Hyundai Mobis will spin off its domestic module and after-service parts businesses and merge them with Hyundai Glovis, a logistics firm, a plan which needs the approval of both companies' shareholders on May 29.
(Reporting by Hyunjoo Jin and Dahee Kim; Editing by Michael Perry)
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