Samsung Denies Rumors of Blackberry Buyout

D-Bo , Jan. 16, 2015, 11:11 a.m.

Samsung and BlackBerry have denied reports that the Korean electronics giant plans to buy the ailing Canadian smartphone maker for US$7.5 billion.  Citing documents and unnamed sources, Reuters on Thursday said that Samsung offered to buy Blackberry for between $13.35 and $15.49 a share, and executives from both sides met last week to discuss the deal. 

The offer would be around 38 to 60 percent higher than Blackberry's current share price.  Reuters claimed Samsung is mainly interested because it wants to get its hands on BlackBerry's patents.  But a Samsung executive said the report was "groundless," while the Canadian firm in a statement said it "has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry."

BlackBerry once held more than 20 percent of the global market for mobile phones but that plunged after Apple rolled out its first iPhone, and the Canadian firm now accounts for less than one percent of the smartphone market.  BlackBerry has been the subject of a steady stream of speculative reports about a possible acquisition recently.

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