A spokesman for Palm in Europe declined to comment.
Palm, which makes the Pre and Pixi phones and develops WebOS phone software, is working with Goldman Sachs Group Inc
Frankfurt-listed Palm shares
Palm's shares had jumped on Friday, capping a volatile week in which the smartphone maker's stock seesawed on takeover rumors and options market chatter.
On Friday, Taiwan's Economic Daily News said that HTC Corp <2498.TW>, the world's No. 5 smartphone maker has, opened discussions about an intent to acquire Palm.
Palm has for years been mentioned as a potential takeover target for much larger companies -- such as Lenovo Group <0992.HK> -- hoping to enter the mobile market or expand their presence.
Palm's limited scale, distribution and weak global brand outside the United States all point to a takeover as the next chapter in the Palm story, said CCS Insight analyst Geoff Blaber.
The company has developed a highly valuable asset in webOS. The challenge for Palm is finding a buyer prepared to pay a premium for an immature platform when many potential suitors have already invested heavily in Android, Blaber said.
In the past, technology companies Dell Inc
(Reporting by Sakthi Prasad in Bangalore and Tarmo Virki in Helsinki; Editing by Lincoln Feast and Erica Billingham)