• News Desk

SAMSUNG'S PLAN TO BOOST SHAREHOLDER VALUE


The U.S. activist hedge fund, Elliott Management, which owns 0.6 percent of Samsung, called on the South Korean tech giant in October to divide itself into a holding vehicle for ownership purposes and an operating company, as well as pay out 30 trillion won ($26 billion) in a special dividend. Samsung Electronics Co Ltd (005930.KS) said it will disclose plans to boost shareholder value on Tuesday. The Seoul Economic Daily, citing an unidentified source, reported on Monday the firm will say it plans to consider a split. Samsung declined to elaborate further on Monday on its plans, although it said last month it is considering buying back more shares. Samsung is also keen not to alienate investors at a time when it is reeling from a disastrous withdrawal of the fire-prone Galaxy Note 7 smartphone that the firm projects will cost 6.1 trillion won in profits over three quarters.

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