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Blackberry shares rise up 3 percent amid unconfirmed report on possible Lenovo Bid

Blackberry CEO Jack Chen
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Image / Reuters / Mike Segar
Image / Reuters / Mike Segar

Blackberry’s shares rose a sharp 3 percent, amid an unconfirmed report that China-based Lenovo Group may be planning to buy the Canadian smartphone maker.

As per a report on, Lenovo Group Limited is planning to acquire the Canadian smartphone maker at a $15 per share price, almost $5 more than Blackberry’s last closing price of $10.30.

The report also mentions, that the offer could be made as early as this week, and though the initial offer would be $15 per share, the deal may get done at somewhere around $18 per share.

Lenovo’s CFO Wong Wai Ming said in January 2013

Research in Motion (now Blackberry) is one of many possible opportunities for the company.

It was reported, later that year, that the Canadian Government had blocked that deal, due to various security reasons. BlackBerry’s highly secure networks manage email traffic of some of the biggest corporate sector names, along with government and military agencies across the globe. Under Canadian Government Law, any foreign takeover of Blackberry, would face regulatory obstacles under the Industry Canada Act.

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.

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