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Samsung Elec says it will cancel $4.4 billion worth of shares

November 30, 2018 1:33 AM
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SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) said on Friday it would cancel 4.9 trillion won ($4.4 billion) worth of its shares.

Expected to be complete on Dec. 4, the cancellation was the second stage of its previously announced plan to cancel all of its treasury shares in two stages to enhance shareholder value. The first stage was canceled in May last year, it said.

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