Samsung founding family sells shares to cover multi-billion inheritance tax payment
To pay inheritance taxes, family members of Samsung Electronics chairman Jay Y. Lee sold 2.8 trillion won (US$2.12 billion) worth of business and affiliate shares.
According to the Seoul Economic Daily and unnamed investment banking sources, Samsung Electronics sold approximately 29.8 million shares, or a 0.5% stake, at a discount of 1.2% to 2.0% from its Wednesday closing price of 73,600 won.
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea South Korea,...
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