Samsung says not interested in acquiring Nokia

Samsung Electronics has denied it is interested in acquiring Nokia, ending speculation of a possible buyout offer, reports said.

"Such reports are purely speculative and are not true," Samsung said.

On Friday Nokia's shares rose nearly 6 per cent last Friday on speculation of a possible buyout offer.

Once among the most valuable companies in Europe, the mobile phone maker has seen its share prices fall to 2.20 euros in recent days - the lowest since the mid-1990s.