Samsung says it's not buying BlackBerry


Samsung says it's not buying BlackBerry

Samsung quashed reports that it was planning to purchase BlackBerry almost as quickly as they emerged.

The South Korean smartphone manufacturer told Reuters that rumours and reports of a potential acquisition were “groundless.”

This statement came after the website reported earlier in the day that it had spoken to a source and seen documents that indicated that Samsung recently tried to buy its fellow smartphone manufacturer for as much as $7.5 billion.

BlackBerry also denied claims, saying that it “has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry”.

It was originally believed that Samsung was interested in BlackBerry in order to gain access to its patent portfolio.

The news worked in BlackBerry’s favour, as its shares rose 29.7% to $12.59 following the report. But it doesn’t look as though ownership is going to change hands any time soon.

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