News of BlackBerry-Samsung talks prompts stock manipulation probe

The U.S. and Ontario securities commissions are investigating whether investors used the media to try to manipulate BlackBerry Ltd. stock prices. 

The investigation stems from Reuters report last month that Samsung Electronics Co. was in talks to buy the Canadian smartphone company for as much as $7.5 billion, according a Wall Street Journal report.

Investigators are looking into whether someone provided the information to reporters at Reuters to drive up stock prices.

“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in a statement on its website.

Samsung Electronics has also reportedly denied talks of a sale.

In a report Thursday, Reuters said it corrected its January story to make clear the discussions were between advisers rather than company officials and said there is no indication that the news outlet is a target of the investigation.