Shares of S.Korea's Lotte Group firms rise after chairman released from jail

Lotte

08/10/2018 01:57

** Shares of Lotte Group companies rise after group Chairman
Shin Dong-bin was released on Friday as a court suspended his
jail sentence  urn:newsml:reuters.com:*:nL4N1WL1TL
    ** Lotte Corp  004990.KS  adds as much as 5.18 pct to the
highest since mid-June, while Lotte Chemical  011170.KS  and
Lotte Fine Chemical  004000.KS  gain over 3 pct each
    ** Shin, who was sentenced to 2-1/2 years of jail term for
bribing ex-president Park Geun-hye, is expected to expedite
group reconstruction, as he vowed at the ruling of the court
    ** Lotte Corp is likely to incorporate Lotte Chemical in the
near future, says Yoon Tae-ho, an analyst at Korea Investment &
Securities, adding there would be meaningful changes in business
portfolio of Lotte Shopping  023530.KS  and Lotte Chemical
    ** Broader KOSPI market  .KS11  flat as of 1246 GMT

 ((hayoung.choi.thomsonreuters.com@reuters.net))