Samsung Concerned Of Hostile Take-Over Bid

Samsung Electronics has conveyed its concerns over a possible foreign takeover to the Fair Trade Commission (FTC), a Samsung official confirmed on Thursday.

Samsung executives delivered the message in their recent visit to the FTC, saying that the government’s rule banning chaebol from exercising voting rights in financial subsidiaries beyond a specific limit has exposed the nation’s flagship company to hostile takeover bids from foreigners.

Samsung’s financial service companies holding stakes in Samsung Electronics are currently permitted to exercise just 30 percent of their voting rights.

The FTC is planning to lower the ratio to 15 percent.

Read more at Korea Times