NewsAugust 31, 2007
Rumour: Microsoft to buy RIM
Shares in BlackBerry creator Research in Motion soared yesterday on the back of rumours that the Canadian company was the target of a takeover bid from Microsoft.
RIM's stock closed up 91 cents to C$84.59 on the Toronto Stock Exchange Thursday.
At one point the stock rose as high as C$89.68 as a result of more than 1.7 million RIM shares changing hands.
The rumours were born from increased interest in the predicted Google phone. Microsoft would be keen to get a toe in the hardware market to combat the threat from Google and RIM has long been seen as a potential takeover target for a variety of other companies, including Nokia and Motorola.
Neither RIM nor Microsoft would comment on the rumours.
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