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Financials

Samsung Elec to consider split - Seoul Economic Daily

SEOUL, Nov 28 (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.

Reporting by Se Young Lee; Editing by Stephen Coates

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