Samsung affiliates’ shares rise after Lee’s death sparks hopes of shake-up By Reuters

© Reuters. FILE PHOTO: Samsung Group chairman Lee Kun-hee arrives to meet President-elect Lee Myung-bak with other businessmen in Seoul

SEOUL (Reuters) – Shares in Samsung Electronics (OTC:) Co Ltd and affiliates rose on Monday after the death a day earlier of Chairman Lee Kun-hee sparked hopes for restructuring and stake sales, analysts said.

Shares in Samsung (KS:) C&T and Samsung Life Insurance rose as much as 21.2% and 15.7% respectively, while shares in Samsung BioLogics, Samsung SDS and Samsung Engineering also rose.

Lee was the wealthiest stock owner in South Korea, with holdings including 4.18% of Samsung Electronics common shares and 0.08% of preferred shares, worth about 15 trillion won ($13.3 billion) in total.

He also held a 20.76% stake in Samsung Life worth about 2.6 trillion won, and a 2.88% stake in Samsung C&T worth about 564 billion won as of Friday’s closing.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*