BlackBerry, Samsung deny report of $7.5 billion takeover talks

BlackBerry and Samsung have denied a report that they are in talks for Samsung to make a takeover offer for the Canadian company.
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BlackBerry and Samsung Electronics have denied a report that they are in talks for Samsung to make a takeover offer for the Canadian company, says an AP report.

”BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in a statement on Wednesday.

Samsung Electronics spokeswoman Jini Park also dsimissed the report saying it 'groundless' and the Korean company don’t have a plan to purchase the Canadian company.

According to a recent report, Samsung Electronics had recently offered $7.5 billion to acquire BlackBerry, seeking its valuable patents as it battles Apple in the market.

On a different note, if Samsung buys BlackBerry, it could be a game changer for smart phone market. The Canadian conglomerate, along with its portfolio of patents, has the potential to change the market equation. The security feature of BlackBerry is, of course, unparallel.

Following the report, share price of BlackBerry had shot up 30 percent to $12.60 in New York on Wednesday.

Image: CorbisImages

 
 
 
 
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