SEOUL (Reuters) - South Korea's Hyundai Mobis plans to make an announcement involving its parent Hyundai Motor Group's ownership structure around 3:30 pm local time (0630 GMT) on Wednesday, a source with direct knowledge of the matter told Reuters.
Another source said that the announcement will be made at 3 to 4 pm local time, and has to do with "major changes" without elaborating further.
Hyundai Motor Group, South Korea's No.2 conglomerate after Samsung, has been under government pressure to address its complex shareholding structure, which critics say gives too much power to its controlling family at the expense of others shareholders.
Spokespersons at Hyundai Mobis and Hyundai Motor said they are not aware of the planned announcement.
(Reporting by Hyunjoo Jin; Editing by Kim Coghill)
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