Samsung's Lee Keeps $3.7 Billion Stake in Family Feud
February 1, 2013
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Samsung Electronics Co. Chairman Lee Kun Hee will retain control of Asia's biggest consumer- electronics maker after a court rejected relatives' bids for a 4.1 trillion-won ($3.7 billion) stake in the family group.
The brother, sister and three other family members of billionaire Lee, 71, failed to prove they should be given the stakes in Samsung Electronics and Samsung Life Insurance Co., the Seoul District Court ruled today.
The family feud comes as Samsung Electronics barrels ahead of Apple Inc. Sony Corp. and Panasonic Corp. as the world's biggest maker
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