Samsung Life surges on speculation of possible stake sale in Samsung Electronics

Samsung Fire & Marine Insurance

13/08/2020 05:38

** Samsung Life Insurance  032830.KS  shares rise as much as
11% to 6,500 won, their highest level since Feb. 20  
    ** South Korean media Edaily says https://bit.ly/3fSqJtl a
parliamentary committee reviews a revision of an insurance law
which could force co to sell down its stake in Samsung
Electronics  005930.KS  
    ** Proposed revision would change the way an insurer's stake
value in another firm is calculated; currently the law bars an
insurance co from owning a stake in another firm whose value
exceeds 3% of the co's total assets - Media report
    ** Samsung Life Insurance owns >8% stake in Samsung
Electronics 
    ** Shares of Samsung C&T Corp  028260.KS , which holds a
5.01% stake in Samsung Electronics, rise 9.9%   
 

 ((hyunjoo.jin@thomsonreuters.com))