BREAKING NEWS

BREAKING NEWS

Samsung reportedly considering splitting company in two

 Comments
Now Reading :

Samsung reportedly considering splitting company in two

Samsung reportedly considering splitting company in two
Text size Aa Aa

Embattled South Korean electronics giant Samsung, reeling from exploding phones and washing machines, is considering splitting the company in two.

The idea was floated in October by America’s Elliot Investment, an activist fund looking to increase the value of its investment. It also wants the release of a special dividend of 24.4 billion euros, and the nomination of three independent administrators. Elliot holds 0.62% of Samsung.

Samsung is controlled by the Lee family, but the patriarch is ailing and his three children have recently been given a more active role, with his son Jay Y. Lee in charge of the day-to-day running of the conglomerate.

It has also been reported that Samsung is considering selling its PC operation to China’s Lenovo. The company’s management committee meets on Tuesday.