Vultures are gathering..
Ailing BlackBerry could be sold within just two months, taking its cue from this week’s sale of Nokia’s mobile arm to Microsoft. That’s the claim from the Wall Street Journal, which reports that a special body of directors has already drawn up a list of potential bidders since the company announced it was up for grabs last month. It says a fast auction process is now planned, with bidders likely to include a consortium led by former director Prem Watsa – dubbed the Warren Buffet of the North – and Chinese manufacturer Lenovo. BlackBerry’s vast portfolio of patents, aligned with its secure messaging technology, could equally appeal to major mobile players.
But any sale will have to get the green light from Canada’s regulators, who are unlikely to be happy with the prospect of ownership shifting beyond the country’s borders and, with it, the threat of major job losses.
Speculation of quick sale last night resulted in 5 per cent rise in BlackBerry’s shares to nearly $11, though that is still a far cry from the Toronto comany’s heyday in 2008 when it share price was worth ten times that.