RIM shares soar on takeover rumours

Research In Motion’s shares took off amid unconfirmed reports that tech heavyweights Microsoft, Nokia and Amazon had looked to take over the BlackBerry smartphone maker.

The Wall Street Journal reported that US software giant Microsoft and Finnish cell phone behemoth Nokia mulled a joint takeover of RIM in recent months.

Other reports said online retailer Amazon had separately weighed an offer for Canada’s largest technology company.

RIM would not confirm or deny it held takeover talks with any of the companies.

“Sorry, RIM’s standard policy is to decline comment on rumours and speculation,” a spokesman told AFP in an e-mail.

National Bank Financial analyst Kris Thompson said it is “very unlikely” that anyone including Amazon, Microsoft or Nokia would buy RIM now, “given the company’s dismal performance and uncertain outlook.”

He predicted BlackBerry sales to fall significantly over the coming year.