One of South Korea's most controversial mergers has been given approval by shareholders of the construction company Samsung C&T.

The deal will see the firm taken over by holding
company Cheil Industries, another part of the Samsung
group.
The merger is strongly opposed by some of Samsung
C&T's shareholders, led by US hedge fund Elliott
Associates.
For Samsung's founding family, the move is a crucial
step in consolidating control of the conglomerate.
Shareholders in Cheil Industries approved the merger
earlier on Friday.
Shares in Samsung C&T fell 10.4% and Cheil Industries
dropped 7.7% after the merger was approved.
Power transfer
Elliott Associates, which is the second largest single
shareholder in C&T, says the takeover significantly
undervalues the company's stock.
The hedge fund had filed several unsuccessful law suits
to stop the vote from going ahead.
The takeover is key to consolidating the Samsung
founding family's control of the multi-headed
conglomerate.
It is of particular significance as it comes ahead of a
generational power transfer at Samsung.
The business empire's patriarch Lee Kun-hee has been
in hospital since May 2014 and his son Lee Jae-yong is
to take a bigger leadership role.