Samsung shareholders approve affiliates merger

Monday 20 July 2015 | 09:51 CET | News
Samsung shareholders have approved a USD 8 billion merger of two Samsung affiliates. Samsung shareholders have now approved the merger with 69.5 percent of votes cast, slightly more than the required two-thirds majority, The WSJ reports. The merger between the Samsung conglomerate's de facto holding company, Cheil Industries, and construction-and-trading unit Samsung C&T, will provide heir apparent Lee Jae-yong with a direct stake of 16.5 percent in the merged entity, which will retain the Samsung C&T name and relist on 15 September. He will gain control over Samsung C&T's 4.1 percent stake

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Samsung
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Samsung chairman Lee dies after long illness

Published 26 Oct 2020 08:56 CET | Korea, Republic of
Samsung Group announced the death of its chairman Lee Kun-hee at the age of 78, after several years of illness following a heart ...

Samsung Q2 profits fall as smartphone growth slows

Published 30 Jul 2015 08:49 CET | World
Samsung Electronics reported second-quarter net profit down to KRW 5.75 trillion from KRW 6.25 trillion a year ago, hurt by ...

New shareholder against Samsung takeover of Samsung C&T

Published 04 Jun 2015 09:50 CET | World
Elliott Associates said it has acquired a 7.12 percent stake in Samsung C&T and that a proposed takeover of the company by the ...

Samsung adds former Coca Cola marketing executive to team

Published 31 Mar 2015 12:46 CET | World
Samsung Electronics announced the appointment of Pio Schunker as the new Senior Vice President of Integrated Marketing ...

Samsung loses 3 mobile execs, incl marketing chief - report

Published 04 Dec 2014 11:14 CET | World
Three deputies to the head of Samsung Electronics's mobile division are leaving, a person with knowledge of the matter told ...

Samsung ends top level shuffle with co-CEOs in place

Published 01 Dec 2014 11:09 CET | World
Samsung will keep its system of three CEOs, Bloomberg reported, adding that co-CEO Shin Jong Kyun will continue to run the mobile ...

Samsung planning mgt reshuffle after difficult year - report

Published 24 Nov 2014 09:33 CET | World
Samsung is planning to reorganise its management team after its difficult financial year, the Wall Street Journal reported. One ...