BlackBerry stock jumps 26% on report of Samsung approach

by Volker Weber

Reuters story:

Smartphone company Samsung has recently approached BlackBerry to buy the company for as much as $7.5 billion, looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.

BlackBerry responds:

Waterloo, ON – BlackBerry Limited (NASDAQ: BBRY; TSX: BB) (“BlackBerry”) is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.

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I explain difficult concepts in simple ways. For free, and for money. Clue procurement and bullshit detection.

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