Samsung scion buys shares in group firms, tightens grip on reins

February 25, 2016 8:12 AM

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Samsung scion buys shares in group firms, tightens grip on reins

SEOUL Samsung Group's [SAGR.UL] de facto leader Jay Y. Lee will buy shares worth 230 bln won ($186 million) in two of its businesses, strengthening his grip on the smartphones-to-construction conglomerate amid an ongoing succession process.

Lee is widely viewed as the steward of South Korea's top family-run business since his father, group patriarch Lee Kun-hee, was hospitalized after a heart attack in 2014. In a complex ownership structure, one of the deals boosts Jay Y. Lee and his two sisters' control over key arms Samsung Electroni...

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