Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.
It may be the weekend, but the world’s biggest companies don’t take time to rest and — to that end — Samsung today spoke up to deny speculation that it is planning to invest in US retailer Best Buy.
The Korea Times reported that senior executives at the two companies — which partnered in April to introduce to 1,400 ‘Best Buy Samsung Experience Shops’ across the US — are in discussions over “pending business issues.” Analyst firm HMC Securities claimed this includes a proposed investment deal, since it claims Samsung “has been considering increasing subsidies paid to BestBuy.”
Samsung shot that suggestion down in a brief post on its blog:
In the past few days, there have been reports that ‘Samsung is considering to acquire stakes in Best Buy’. Please take note that these rumors are not true.
There have been no talks whatsoever regarding stock acquisition of either company.
By the process of deduction, that suggests that Samsung and Best Buy may be in discussion to extend their working arrangement with more stores. We’ve reached out to Samsung for further clarification.
Image via Scott Olson/AFP/Getty Images
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