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Sunday, October 06, 2013
Samsung Refutes Rumored Best Buy Acquisition Plans

Samung has clarified that the reports about an acquisition of Best Buy stakes are not true.

In the past few days, there have been reports that Samsung was considering to acquire stakes in retailer Best Buy. Samsung desribes the reports as rumors and says that they are not true. In addition, the company clarified that there have been no talks whatsoever regarding stock acquisition of either company.

The rumors emerged last week when talking with The Korea Times, Lee Jae-yong, Samsung's vice chairman, said he had been met with senior executives at BestBuy and had discussed "pending business issues".

Samsung has already a partnership with the retailer over the creation of "Experience Shops," a space in BestBuy's outlets that enables visitors to try its products before buying them.

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