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Blackberry for sale


This November could see the sale of BlackBerry Ltd., the beleaguered smartphone maker, as its board of directors explore options going forward, and selling the company is currently the most viable.

BlackBerry announced in August that it had formed a special committee of board members to explore strategic alternatives. Since then, the company has held preliminary talks with parties interested in buying part or all of the company, whilst a list of potential bidders are now in line to seek out in a sales process expected to begin soon, according to report in The Wall Street Journal and MobileMarketing.

The announcement follows BlackBerry’s financial results for Q2, 2013, which saw it reporting losses of $84m (£54m) and expects to lose more money in the three months to the end of September. This leading to Prem Watsa, CEO of Fairfax Financial – BlackBerry’s largest shareholder – to resign from the board ahead of the talks. The move is due to potential conflicts that may arise, though he confirmed the company has “no current intention of selling its shares”.

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