Tuesday, December 24, 2013

Founder sells shares of BlackBerry - FORTUNE

NEW YORK (Reuters) – BlackBerry co-founder Mike Lazaridis reduced its stake in the company to 4.99% from 8% and said a group in which it is included, it withdrew a bid for exploring complicated smartphone maker.

founders Lazaridis and Douglas Fregin disclosed in a securities filing in October that they considered making a bid for the company.

Related articles: BlackBerry: the third time’s the charm

?BlackBerry last month abandoned plans to sell after a review of strategic options that took two months and discussions with potential buyers, which included Facebook, Lenovo and private equity firms like Cerberus Capital.

smartphone maker had a loss of 4,400 million during the three months ended in November. Excluding charges, BlackBerry lost 67 cents per share, worse than analysts expected figure. Sales fell 56% during the year to 1,200 million. The figure was also below the Wall Street consensus.

The company started the year with the launch of its highly anticipated BlackBerry 10 operating system. However, their first device with the platform, the Z10 had a weak sales performance.

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