Seeking Alpha

BlackBerry co-founder ends attempt to buy company

  • BlackBerry (BBRY) co-founder and former CEO Michael Lazaridis has cut his holding in the troubled smartphone maker to 4.99% by selling over $26M worth of stock and said a partnership that he was part of to buy the company has been ended.
  • Lazaradis had created the partnership with co-founder Douglas Fregin, and between them they owned 8%. Fregin now holds 2.3%.
  • Lazaridis' move comes after BlackBerry last month abandoned a plan to sell itself following a review and discussions with prospective suitors.
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Comments (15)
  • sk84
    , contributor
    Comments (2) | Send Message
     
    this is bad news for investor :(.....
    25 Dec 2013, 07:35 AM Reply Like
  • Scal80
    , contributor
    Comments (40) | Send Message
     
    Lazaridis shifted all of his attention to QVI a while ago so I'm not surprised he decided to sell a portion of his shares.
    26 Dec 2013, 02:49 AM Reply Like
  • Cliff Hilton
    , contributor
    Comments (2005) | Send Message
     
    Facebook founder sold way more than that recently. Not news...
    25 Dec 2013, 09:25 AM Reply Like
  • midcapwarrior
    , contributor
    Comments (45) | Send Message
     
    You really think their is a comparison between selling FB and selling BBRY?
    Seriously?
    One selling for tax reasons and one giving up on his company.
    25 Dec 2013, 11:20 AM Reply Like
  • LYogi
    , contributor
    Comments (2424) | Send Message
     
    Good news for investor as this means Mike L. Has realized that he has no chance to buy the company now that Chen has turned sentiment around.

     

    Onwards and upwards for BlackBerry!
    25 Dec 2013, 09:45 AM Reply Like
  • gwynfryn
    , contributor
    Comments (4833) | Send Message
     
    Maybe, LY, or maybe he's cutting his losses? Shucks, I forgot it's Christmas, and I really shouldn't have rained on your parade!
    26 Dec 2013, 10:20 AM Reply Like
  • LYogi
    , contributor
    Comments (2424) | Send Message
     
    If his aim were to cut losses he would have unloaded way more than the few percentage points of his holdings that he did.
    26 Dec 2013, 11:25 AM Reply Like
  • gwynfryn
    , contributor
    Comments (4833) | Send Message
     
    Maybe; I hadn't noticed that he'd sold less than half of his holding (if my math is right) which is strange? Frankly, I don't know what can be read into that, other than he seems to need the money for something else, more important to him than BBRY.
    27 Dec 2013, 09:05 AM Reply Like
  • Sceptik
    , contributor
    Comments (93) | Send Message
     
    BBRY will spend all their money left, with no chance of anymore cash infusions. Onwards to 0 by the end of 2014.
    25 Dec 2013, 11:27 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1718) | Send Message
     
    How much has this poor guy's net worth dropped since Blackberry's fortune turned sour?
    25 Dec 2013, 01:44 PM Reply Like
  • contrarianwise
    , contributor
    Comments (1184) | Send Message
     
    If between them they owned 8% and now they are down to 7.29%? Hard for me to evaluate but would hope he would have held his shares, but 4.99% is still a lot of shares to keep holding.
    25 Dec 2013, 04:23 PM Reply Like
  • mvermaak
    , contributor
    Comments (330) | Send Message
     
    I just think that it was a bit awkward timing and betraying the new management as the sale had a huge phsycholgical impact at a critical moment
    27 Dec 2013, 06:06 AM Reply Like
  • 199876
    , contributor
    Comment (1) | Send Message
     
    University of Waterloo acquires five buildings from BlackBerry for $41 million...

     

    http://bit.ly/1cVWom6
    27 Dec 2013, 08:21 AM Reply Like
  • gwynfryn
    , contributor
    Comments (4833) | Send Message
     
    But will lease two of them back for two to five years? Looks like they are trimming down, but not planning on packing up completely.
    28 Dec 2013, 08:59 AM Reply Like
  • hz06
    , contributor
    Comments (1087) | Send Message
     
    ML still talked about ending his bid? when BB took down the for sale sign, everyone ended their bid officially.

     

    selling some shares at year end and to be exactly below 5%, that doesn't mean he's out of BB. it's a talking point for the media, both the longs and the shorts know that.

     

    i sold 40% of my BB shares to offset 2013 profits, and am waiting out the wash sale period.
    28 Dec 2013, 12:43 PM Reply Like
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