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BlackBerry denies Samsung takeover rumours

BlackBerry denies Samsung takeover rumours

BlackBerry has denied it is the subject of a takeover bid from Samsung, as rumours continue to swirl around the future of the phone-maker.

In a statement, the beleaguered Canadian tech giant claimed it "had not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry.”

Reuters reported that Samsung had offered $7.5 billion (£4.9 billion) for BlackBerry, a massive premium on its stock market valuation.

Sources said that the Korean giant is interested in BlackBerry’s patent portfolio and its enterprise business.

The insiders claimed that executives met last week to discuss the terms of the takeover.

When the news broke, BlackBerry’s shares soared by 30%, before slipping back 15% on the company’s denial that a deal was in the offing.

Other reports have suggested that BlackBerry has rebuffed a number of takeover offers in recent weeks.

The company has started turning itself around under CEO John Chen, after years of releasing handsets which failed to capture the public’s imagination.

Its current BlackBerry Classic and Passport devices were released late last year.

Source:

Reuters

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