South Korea-based Samsung Electronics will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.

Samsung’s board of directors would hold a meeting on Tuesday and formally respond to the proposals, the paper said. Meanwhile, the Korea Exchange has asked Samsung to comment on whether it planned a spinoff.

The world’s largest smartphone maker said in late October it disclose plans for shareholder returns by the end of November.

Samsung did not immediately comment on the report.