Samsung cancels $2.11 billion of its shares

Samsung has in recent days cancelled $2.11 billion of its shares. In its own native currency, that of the Republic of Korea (the won) that number of 3.05 trillion.

This follows up on earlier buy-backs of those shares of course. You have to own them before you can cancel them.

Significance of this move? Like the initial buy-back, the point of a share cancellation is to support the price. The price needs the support largely because of the Trump administration's tariff policy.

Samsung is a Korean company with indispensable business ties both in the US and in the PRC. A trade war between those two counties is a nightmare for its managers and shareholders.

Consider this post just a random bit of flotsam from the stream of recent news.

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