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Samsung Electronics to consider split: Report

South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.

business Updated: Nov 28, 2016 15:01 IST
Seoul
South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.
South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.(Reuters)

South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.

Samsung’s board of directors would hold a meeting on Tuesday and formally respond to Elliott’s proposals, the paper said. The Korea Exchange separately asked Samsung to comment by 6 p.m. (0900 GMT) on whether it planned a spinoff.

The world’s top smartphone maker said in late October it would respond to Elliott’s proposals and disclose plans for shareholder returns by the end of November.

Samsung did not immediately comment on the report.