Canadian smartphone giant BlackBerry is set to be bought by rival Samsung for a massive £4.9 billion ($7.9 billion), if rumours are to be believed.
News outlet Reuters reports that the news comes from someone “familiar with the matter”, and that Samsung value BlackBerry at somewhere between $13.35 and $15.49 per share, greater than the share price of $10, as it was at the time. Since the rumour broke, shares rose to $12.60 before dipping back to just below $11.
According to Reuters’ source, negotiations are at an advanced stage, with both parties involved in discussions last week. BlackBerry has denied the reports, stating that it is “not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry.”
Any takeover of BlackBerry would need to be approved by the Canadian government, as the move would be considered a foreign takeover of one of the county’s most prestigious companies.