BlackBerry shares up amid takeover rumours and promising sales

12/03/2013

BlackBerry Shares Up Amid Takeover Rumours And Promising Sales

Shares in BlackBerry have risen sharply as speculation grew that it might be the subject of a takeover bid by computer manufacturer Lenovo.

The Canadian mobile phones giant saw its shares go up by 14 per cent after the head of Lenovo told a French newspaper that an acquisition could take place in the future.

"External growth remains a question of opportunities. As for BlackBerry, the file could eventually make sense, but I must first analyse the market and understand the exact weight of this company," Yang Yuanqing told Les Echos.

BlackBerry has recently found that sales of its new smartphone, the Z10, have exceeded expectations, with a launch in the US also on the horizon.

"Gross margins should begin to move higher as more Z10s enter the mix. Next quarter will be the true test as BB10 launches in the US," added Scotiabank analyst Gus Papageorgiou.

Posted by Samantha Green

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