Samsung Life to buy Samsung Electronics' entire stake in Samsung Card - media

Samsung Card

28/01/2016 03:02

SEOUL, Jan 28 (Reuters) - Samsung Life Insurance Co Ltd 
 032830.KS  will buy sister company Samsung Electronics Co Ltd's 
 005930.KS  entire stake in affiliate Samsung Card Co Ltd 
 029780.KS , South Korean online publication Money Today 
reported on Thursday.   
    The life insurer's board plans to vote on Thursday on buying 
Samsung Electronics' 37.5 percent stake in the Samsung Group 
credit card business, Money Today reported, citing unidentified 
sources in the financial industry and wider industry in general. 
    The stake was worth about 1.38 trillion won ($1.14 billion) 
as of Wednesday's close.  
    A Samsung Life spokesman did not have an immediate comment. 
Samsung Electronics could not be immediately reached for 
comment. 
 
($1 = 1,208.6000 won) 
 
 (Reporting by Joyce Lee and Se Young Lee; Editing by Kenneth 
Maxwell) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: SAMSUNG LIFE SAMSUNG CARD/SAMSUNG ELEC