Lee's death sparks hope for Samsung shake-up, dividends - News Summed Up

Lee's death sparks hope for Samsung shake-up, dividends


Shares in Samsung C&T and Samsung Life Insurance closed up 13.5 per cent at a two-month high and 3.8 per cent, respectively, while shares in Samsung SDS also rose. Son and heir apparent Jay Y. Lee has a 17.3 per cent stake in Samsung C&T, the de facto holding firm, while the late Lee was the top shareholder of Samsung Life with 20.76 per cent stake. Read More“It may be likely for Samsung C&T to consider increasing dividends for the family to cover such a high inheritance tax,” KB Securities analyst Jeong Dong-ik said. Since then, Samsung carried out a flurry of stake sales and restructuring to streamline the sprawling conglomerate and cement the junior Lee’s control. Investors have long anticipated a further shake-up in the event of Lee’s death, hoping for gains from restructuring to strengthen de facto holding company Samsung C&T’s control of Samsung Electronics, such as Samsung C&T buying an affiliate’s stake in the tech giant.


Source: Standard Digital October 26, 2020 09:56 UTC



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