TORONTO – Samsung’s co-CEO has denied reports that the tech giant was planning to acquire Canadian smartphone maker BlackBerry.
“We want to work with BlackBerry and develop this partnership, not acquire the company,” J.K. Shin told The Wall Street Journal in a statement Monday.
READ MORE: BlackBerry denies report of takeover offer from Samsung
According to the report, Samsung is in talks with the Waterloo, Ont.-based company to “extend the scope of its cooperation,” which could include using BlackBerry technology in Samsung devices.
Rumours of a Samsung takeover made headlines last week after a Reuters report, citing unnamed sources, alleged Samsung offered to pay as much as $7.5 billion for the ailing smartphone maker. The report said Samsung was primarily interested in Blackberry’s parent portfolio.
READ MORE: Why a Samsung takeover of Blackberry could make for a logical business combination
“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” a BlackBerry spokesperson said in a statement last week.
BlackBerry shares surged 30 per cent on the report as many business experts agreed a possible takeover could be good news for the tech company.
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