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RIM Gains on Report of Samsung Interest

 

RIM rose 5.6 percent to $17.08 at 11:52 a.m. New York time after rising as high as $17.25. Samsung may be interested in buying RIM, and no deal has been made because Waterloo, Ontario- based RIM is asking too much, the blog BGR reported today, citing sources it didn’t identify.

Buying RIM would give Samsung e-mail and messaging technology and bolster its U.S. market share as it seeks to stay ahead of Apple Inc. (AAPL) RIM’s stock dropped 75 percent last year as new BlackBerry models with touch screens and upgraded browsers failed to stop customers from opting for Apple’s iPhone and devices built on Google Inc.’s Android program, which include Samsung’s Galaxy handsets.

Tenille Kennedy, a spokeswoman for RIM, declined to comment. Ashley Lane, a Samsung spokeswoman, wasn’t immediately available to comment.

RIM’s share of U.S. mobile-phone subscribers in the three months through November dropped to 6.5 percent from 7.1 percent in the previous quarter, according to research firm ComScore Inc. Samsung, based in Suwon, South Korea, increased to 25.6 percent from 25.3 percent, and Apple gained 1.4 percentage point to 11.2 percent.

RIM’s stock has jumped at least 5 percent more than 10 times since the beginning of August on speculation a decline in its valuation will invite a takeover.

 

(Bloombergnews)


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