Blackberry's shares drop as it denies talks with Samsung about buyout deal

blackberryWashington, Jan 15 - After Blackberry denied reports that suggested it had engaged in serious negotiations with Samsung about a possible buyout deal, its shares have dropped by 10.8 percent in post-market trading.

The company said in a statement that it had not engaged in any discussions with Samsung with respect to any possible offer to purchase BlackBerry, reported

The report published earlier quoted a person "familiar with the matter" and was based on documents seen by the news wire service. Blackberry declined to comment before the story ran by saying that it has a policy "not to comment on rumors or speculation." However, the company denied the report after it was published.

BlackBerry shares had shot up by 30 percent to 12.60 dollars just before the market closed after reports that claimed Samsung had offered 7.5 billion dollars to pick up its portfolio of patents was published. (ANI)

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