Samsung calls Nokia acquisition speculation "groundless"

Samsung Electronics, the world’s largest mobile-phone maker, said market speculation that it is interested in acquiring competitor Nokia Oyj is groundless.

11th June, 2012
Samsung's smartphones have helped push Nokia into a difficult position in the market.

Samsung Electronics, the world’s largest mobile-phone maker, said market speculation that it is interested in acquiring competitor Nokia Oyj is groundless.

Samsung, based in Suwon, South Korea, made the comment today in an e-mailed statement. Shares of Espoo, Finland-based Nokia fell 0.7 per cent to 2.35 euros at 11:27am. Helsinki time, after jumping 6 per cent on June 8th amid speculation Samsung is preparing an offer.

Nokia, struggling to recover lost market share, has declined 46...

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