BlackBerry, Samsung deny takeover talks

BlackBerry stock jumped nearly 30 per cent, or $2.89, Wednesday to close at $12.60.

By: Associated Press | New Delhi | Published: January 16, 2015 3:18 am

BlackBerry and Samsung Electronics on Thursday denied a report that they are in talks for the Korean firm to make a takeover offer for the Canadian company.

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

Samsung Electronics spokeswoman Jini Park said the report is “groundless” and the Korean company doesn’t have a plan to purchase BlackBerry. A Reuters report, citing a person that it didn’t identify, said that executives met last week to discuss a potential deal. South Korea-based Samsung offered to buy BlackBerry for $13.35 to $15.49 per share, valuing the company at as much as $7.5 billion, according to the report.

BlackBerry stock jumped nearly 30 per cent, or $2.89, Wednesday to close at $12.60. But it slid as much as 16 per cent in aftermarket trading after the Canadian company denied the report. Any foreign takeover would require approval from the Canadian government.

BB launches Classic in India for Rs31,990

NEW DELHI: BlackBerry has launched the Classic, its latest smartphone, in India at Rs 31,990. The phone will be available only on Snapdeal.com.

The Classic tries to cater to the traditional BlackBerry user who want the physical keys as well as the traditional trackpad along with the touchscreen. ENS

For all the latest Business News, download Indian Express App

    Live Cricket Scores & Results