Samsung affiliates' shares drop on order to cut cross-holdings

Seoul

SAMSUNG GROUP affiliates fell in Seoul after South Korea's antitrust regulator ordered the nation's largest conglomerate to cut cross-shareholdings by March or face possible penalties.

Samsung C&T Corp slumped as much as 5.2 per cent and Samsung SDI Co dropped 1.8 per cent. The Fair Trade Commission ruled the chaebol must address a complex web of shareholdings involving its affiliates and C&T, the de facto holding company formed through the deal in September. The agency's decision presents one more head…