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Samsung SDI plunges 8 percent after unit divests LCD glass stake
October 23, 2013 / 5:58 AM / in 4 years

Samsung SDI plunges 8 percent after unit divests LCD glass stake

SEOUL (Reuters) - Shares in electronics component maker Samsung SDI dropped nearly 8 percent late on Wednesday, hit by concerns of sharply lower investment gains after sister firm Samsung Display decided to sell its LCD glass venture stake.

Journalists walk at the Samsung booth during a media preview day at the IFA consumer electronics fair in Berlin, September 5, 2013. REUTERS/Fabrizio Bensch

Unlisted Samsung Display, which is 15.2 percent owned by Samsung SDI, said on Wednesday it would sell its 43-percent stake in LCD glass joint venture with Corning Inc to the U.S. firm.

Some analysts forecast the deal would slash investment gains booked by Samsung SDI by 15 percent to 20 percent.

Reporting by Miyoung Kim; Editing by Clarence Fernandez

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