Samsung, BlackBerry flatly deny talking about a buyout

Samsung reportedly offered as much as $US7.5 billion for the company

Samsung Electronics and BlackBerry have both denied a report that they met to to discuss a proposed US$7.5 billion buyout by the South Korean powerhouse.

The Reuters news service reported on Wednesday that Samsung had offered to buy BlackBerry for between $13.35 and $15.49 per share. Its story cited documents and an unnamed source. The report sent BlackBerry's stock up dramatically late in the trading day. Its shares on the Nasdaq (BBRY) ended at $12.60, up by nearly 30 percent.

"Media reports of the acquisition are groundless," wrote a Samsung spokeswoman on Thursday.

"BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry," the company in Waterloo, Ontario, said in a statement late Wednesday.

Though BlackBerry is far from the mobile player it once was, it still has respected security technology, patents, automotive and industrial software from its QNX division, and a loyal following among users in enterprises and some developing markets.

Samsung makes more smartphones than any other company in the world but recently has seen its sales and profits decline.

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Tags business issuesBlackberryconsumer electronicsSamsung ElectronicsmobileMergers and acquisitions

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Stephen Lawson

IDG News Service
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