By AFP More by this AuthorSeoulA South Korean court on Tuesday declined to issue an arrest warrant for the heir to the country's Samsung empire over a controversial merger of two business units seen as a key step to his succession. Prosecutors had sought the arrest warrant for Lee on suspicion he was involved in price manipulation and illegal trading during the 2015 merger of Cheil Industries and Samsung C&T. The merger transaction was seen as helping ensure a smooth third-generational power transfer to Lee, a scion of Samsung's founding family. PRICE MANIPULATIONLast week, the Samsung group rejected media reports of price manipulation as "groundless", saying in a statement Lee did not take part in "any illegal acts". Lee, 51, has effectively been at the helm of Samsung – South Korea's biggest business group – since his father and Samsung group boss Lee Kun-hee suffered a heart attack in 2014.

Source: Daily Nation June 09, 2020 08:48 UTC