Samsung Elec family shares block sale seen at $1.66 billion -reports

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, July 4, 2017. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - The mother and two sisters of Samsung Electronics Chairman Jay Y. Lee plan to sell shares in the tech giant in a block deal seen worth about 2.19 trillion won ($1.66 billion), South Korean newspapers reported on Wednesday.

The sale of about 29.8 million shares will be at a discount of 1.2% to 2.0% from Samsung shares' Wednesday closing price of 73,600 won, the Seoul Economic Daily reported, citing unnamed investment banking sources.