Samsung Electronics denied it was interested in acquiring Nokia, sending shares in the Finnish mobile phone company down 2 percent.
Nokia shares rose 6 percent last Friday on speculation of a possible buyout offer. “Such reports are purely speculative and are not true,” Samsung said.
Just last week there were reportsthat the former global leader in mobile phones might get acquired by Microsoft.
In April this year, Samsung Electronics Co Ltd ended Nokia’s 14-year leadership of the global cellphone market in the first quarter of the year, outselling the struggling Finnish handset maker for the first time ever.
Samsung’s success has been propelled by use of Google’s popular Android OS on its smartphones. Nokia, a later comer to smartphone revolution has been outdone by both Samsung and Apple. Nokia has allied itself with Microsoft in the hope of launching smartphones running on Windows 8 OS.
With inputs from Reuters