Could Lenovo be set to take over RIM?

by Andrew Roach on January 28, 2013

With the Blackberry 10 launch only a couple of days away, news has emerged that Chinese electronics firm Lenovo could be interested in taking over RIM.

The news arose from a Bloomberg interview which quoted Lenovo CFO Wong Wai Ming mentioning a possible bid for the Ontario electronics firm.

However, Lenovo has since downplayed the move as they believed that their comments were taken out of proportion when discussing future business moves.

After struggling in recent years, any move to buy RIM would certainly spark interest in the Blackberry manufacturer who are certainly doing their bit to stand in the spotlight for as long as possible.

Lenovo have been very quick to distance themselves away from the mobile manufacturer as Ming stated that the computer manufacturer did not have plans to purchase any companies at the moment including RIM.

The rumours have sparked interest from multiple parties with the Canadian government stating their disapproval of Lenovo’s rumoured approach.

In an interview with Bloomberg last week, Finance Minister Jim Flaherty stated that any move would be heavily scrutinised by the government. In the statement, Flaherty said that they would “look carefully at any deal” involving both parties.

The Canadian government have been known to block deals involving possible overseas investors such as in 2008 when they prevented a $1.32bn takeover of Vancouver satellite firm Macdonald Detweiller by US firm Alliant Techsystems.

No matter the result, the news has provided a further boost to RIM as the takeover news has seen their stock price rise to its highest levels for over a year.

It seems as if RIM is open to outside investment for their products with the company publicly stating that it would sell and license different areas of the company including its hardware units.

But it would be wise to take the takeover rumours with a pinch of salt as previous bids to take over RIM has previously fallen through with Amazon’s 2011 bid being the most stand out in recent times.

Despite all the fuss, RIM has enjoyed a strong start to 2013 with the takeover news solidifying their presence in the stock market and with analysts. With the Blackberry 10 launch also just round the corner, it looks like nobody will be forgetting RIM anytime soon.

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