Shares in Samsung Electronics Co Ltd and affiliates rose on Monday after the death a day earlier of Chairman Lee Kun-hee sparked hopes for stake sales, higher dividends and long-awaited restructuring, analysts said.
Investors are betting that the imperatives of maintaining Lee family control and paying inheritance tax - estimated at about 10 trillion won for listed stockholdings alone - will be the catalyst for change, although analysts are divided on what form that change will take.Shares in Samsung C&T and Samsung Life Insurance soared as much as 21.2per cent and 15.7per cent respectively, while shares in Samsung SDS and Samsung Engineering also rose.
"The inheritance tax is outrageous, so family members might have no choice but to sell stakes in some non-core firms" such as Samsung Life, said NH Investment Securities analyst Kim Dong-yang. Investors have long anticipated a further shake-up in the event of Lee's death, hoping for gains from restructuring to strengthen de facto holding company Samsung C&T's control of Samsung Electronics, such as Samsung C&T buying an affiliate's stake in the tech giant.
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