Blackberry shares plunge as the firm denies Samsung takeover

Blackberry finally put to the rest the rumours that Korean technology giant Samsung was in talks to take over the company, by denying any such offer.

Blackberry did issue a brief statement making its position clear.

“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in a statement.

“BlackBerry’s policy is not to comment on rumours or speculation, and accordingly it does not intend to comment further. ”

When the rumours surfaced, shares for the Canadian company rose by 30 per cent in US trade, which was the highest in 11 years.  However, since Blackberry denied the speculation,  its shares plunged by 17 per cent early Thursday morning and are expected to slide further down.

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