BlackBerry (BBRY) Flying Solo in Effort to Explore Options
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If BlackBerry (Nasdaq: BBRY) is looking for external help, it won't get any from the Canadian government.
During an interview late Wednesday, Canadian Industry Minister James Moore commented that Canada has no plans to intervene as BlackBerry evaluates strategic options. Moore commented,
But, some of Canada's largest pension plans have backed the idea of offering financing to take BlackBerry private. BlackBerry's largest shareholder, Prem Watsa, recently stepped down from the board, indicating he and his fund might take an interest in such a move.
Though Canadian prime minister Stephen Harper has averred that he would like to see BlackBerry remain a Canadian company, he hasn't commented on the company going private. Canada typically reviews foreign takeovers of companies with market caps of $329 million or more.
Shares of BlackBerry are down in early trading Thursday.
During an interview late Wednesday, Canadian Industry Minister James Moore commented that Canada has no plans to intervene as BlackBerry evaluates strategic options. Moore commented,
This is a Canadian company with a long track record of stirring up innovation and important changes in the products we all use. They employ a great number of Canadians. It’s been a source of Canadian pride and we hope that they do well.He also noted that the Company's current smartphone line hasn't been as successful as hoped.
But, some of Canada's largest pension plans have backed the idea of offering financing to take BlackBerry private. BlackBerry's largest shareholder, Prem Watsa, recently stepped down from the board, indicating he and his fund might take an interest in such a move.
Though Canadian prime minister Stephen Harper has averred that he would like to see BlackBerry remain a Canadian company, he hasn't commented on the company going private. Canada typically reviews foreign takeovers of companies with market caps of $329 million or more.
Shares of BlackBerry are down in early trading Thursday.
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