Samsung Electronics said market speculation that it is interested in acquiring competitor Nokia is groundless. The company responded to questions from Bloomberg, after a surge in Nokia's share price raised speculation it was a takeover target. Nokia's shares fell back on 11 June, after jumping 6 percent on 08 June amid rumours Samsung was preparing an offer.
Nokia's share price has declined 46 percent in the past year as it struggles to stem the loss in market share to rivals Samsung and Apple.
