[Follow-Up] Both Samsung & Best Buy Deny Claims of an Investment/Merger

[dgstorm]

Just last week we reported rumors that Samsung was considering investing in Best Buy to help the floundering retailer. Both companies came forward recently to refute this. According to an emailed statement, they have not been negotiating for any kind of merger or investment agreement. Here's a quote with the details,

UPDATE: Representatives from Samsung and Best Buy got in touch with BGR via email to offer the following statement:

“In the past few days, there have been reports that ‘Samsung is considering to acquire stakes in Best Buy’. Please take note that these rumors are not true. There have been no talks whatsoever regarding stock acquisition of either company.”

While a firm denial sometimes can actually mean the opposite, in this instance, it seems likely to be true. Of course, we will continue to monitor this and let you guys know if anything changes.

Source: BGR

 

[edap]

What else were they supposed say about these rumours. Blackberry and Cisco also made the same statement today about acquisition speculation. Nevertheless, Bberry stock jumped 4% on the news.