Samsung affiliates' shares rise after Lee's death sparks hopes of shake-up

Credit: REUTERS/Jo Yong hak

Shares in Samsung Electronics Co Ltd and affiliates rose on Monday after the death a day earlier of Chairman Lee Kun-hee sparked hopes for restructuring and stake sales, analysts said.

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SEOUL, Oct 26 (Reuters) - Shares in Samsung Electronics Co Ltd 005930.KS and affiliates rose on Monday after the death a day earlier of Chairman Lee Kun-hee sparked hopes for restructuring and stake sales, analysts said.

Shares in Samsung C&T 028260.KS and Samsung Life Insurance 032830.KS rose as much as 21.2% and 15.7% respectively, while shares in Samsung BioLogics 207940.KS, Samsung SDS 018260.KS and Samsung Engineering 028050.KS also rose.

Lee was the wealthiest stock owner in South Korea, with holdings including 4.18% of Samsung Electronics common shares and 0.08% of preferred shares, worth about 15 trillion won ($13.3 billion) in total.

He also held a 20.76% stake in Samsung Life worth about 2.6 trillion won, and a 2.88% stake in Samsung C&T worth about 564 billion won as of Friday's closing.

($1 = 1,128.7100 won)

(Reporting by Joyce Lee and Hyunjoo Jin; Editing by Himani Sarkar and Stephen Coates)

((jungyoon.lee@tr.com; +82 2 6936 1467;))

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