RIM Shares Down As Samsung Denies Rumors

RIM Shares Down As Samsung Denies Rumors
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RIM Shares Down As Samsung Denies Rumors

Shares of Research In Motion Ltd. RIMM -4.01% were down more than 4% to $16.70 on Wenesday morning after Samsung Electronics Co. denied a report that it was considering a buyout of the troubled smartphone maker.

A spokesperson for Samsung told Dow Jones Newswires and other media outlets that the company “has never reviewed and never will consider plans to take over RIM.”

Shares of RIM jumped on Tuesday after the technology blog Boy Genius Report ran a story citing unnamed sources that the two companies were discussing a possible deal.

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