Shares of beleaguered RIM spike on Vodafone takeover rumor

“Shares In Research in Motion had their largest single-day gain in more than two years on Wednesday as a report suggested cellular carrier Vodafone may be interested in the company,” Pete Evans reports for CBC News.

“The Wall Street Journal’s market blog reported Wednesday on speculation that London-based Vodafone might purchase the smartphone maker,” Evans reports. “RIM shares ended the day up more than 10% at $24.49 a share on the TSX.”

Evans reports, “Rumours of a takeover by Microsoft and Oracle have been circulating for years. No concrete offers have materialized… Before Wednesday’s trading, RIM had seen its share price tumble by more than 70% in the last 12 months… Northern Securities analyst Sameet Kanade says he doubts Vodafone or any other carrier is an ideal dance partner for RIM, because that would tie their hands in trying to offer other phones on their network.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Sitruc” for the heads up.]


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