Samsung SDS denies merger with C&TSamsung SDS said on Monday that it will not merge its logistics division with its construction affiliate Samsung C&T.
The IT solutions and logistics arm of Samsung Group said in a regulatory filing that it has never reviewed selling off its logistics unit, nor has it considered spinning the division off to merge with Samsung C&T.
“It was necessary for us to elucidate rumors and speculations that have been persistent, when we are in the middle of considering whether to split our logistics divisions,” a Samsung spokesman said when asked about reasons for the filing.
Samsung SDS confirmed on June 7 that it was considering spinning off the logistics business in order to “enhance its global competitiveness and concentrate its capacity.”
The logistics business has been a driving force behind SDS. Last year, the unit reported 2.6 trillion won ($2.3 billion) in revenue, accounting for 33.2 percent of total revenue at the company.
BY SEO JI-EUN [firstname.lastname@example.org]