je.st
news
Lazardis cuts BlackBerry stake to under 5%
2013-12-27 08:46:00| Telecompaper Headlines
(Telecompaper) BlackBerry co-founder Michael Lazaridis has reduced his combined stake with another co-founder in the smartphone maker to just under 5 percent, according to a SEC filing. Lazardis indicated he no longer plans to pursue a joint bid to acquire the company outright, the Wall Street Journal reports. In October, Lazaridis, and Douglas Fregin, another co-founder, disclosed they owned a combined 8 percent stake of BlackBerry and were considering a joint bid to acquire the company. In November, BlackBerry took itself off the market after failing to secure a deal, appointed a new management team and recommitted itself to try to revitalize its struggling operations. Lazaridis said he now owns about a 4.99 percent stake in BlackBerry and indicated he and Fregin ended their partnership for a possible takeover bid.
Tags: under
cuts
blackberry
stake
Category:Telecommunications