BlackBerry co-founder ends attempt to buy company

|About: BlackBerry Ltd. (BBRY)|By:, SA News Editor

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.