MORE VULTURE VICTIMS

FEARED hedge fund Elliott last night called for an overhaul at Hyundai and revealed it had taken a major stake in British tech firm Micro Focus.

The activist investor has bought a £720m stake in the car maker and is urging a boardroom overhaul, the sale of assets and hefty payouts to shareholders. Elliott poured cold water on efforts already made by Hyundai’s management, saying that an attempt to simplify its structure does not go far enough.

It has also disclosed a 5.1pc stake in Micro Focus.