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Amazon 'considered RIM merger'

Research in Motion has rejected a merger with Amazon, it has been claimed.

21 December 2011

Merger and acquisition advisors are likely to have been consulted by Amazon recently, as sources have told Reuters the company considered buying Blackberry maker Research in Motion (RIM).

Furthermore, the online store has competition, as RIM have offered money from many potential purchasers, all of which it has turned down.

"They have had approaches from folks who have wanted to have discussions," a head of technology investment banking at one Wall Street bank told the news provider.

However, RIM wants to fix its own problems, with chief executives Jim Balsillie and Mike Lazaridis tasked with turning around the business's recent poor performance, other sources added.

"The issue is it is hard to find a value that makes sense with a falling knife," the technology expert was quoted by the publication as saying.

Last week, RIM released its financial results for the third-quarter of the fiscal year, recording an annual decrease of six per cent in revenues to $5.2 billion (£3.3 billion) - although this was up 24 per cent on the previous three months.

Posted by Edel Quinn

Source: Reuters, December 21st

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