Winnipeg Free Press - PRINT EDITION

BlackBerry gets boost

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TORONTO -- BlackBerry shares crept up for the third consecutive day as investors responded to reports the smartphone maker wants to launch an auction process sooner rather than later.

The Waterloo, Ont.-based company's stock rose 32 cents to close at $11.60 Thursday on the Toronto Stock Exchange.

BlackBerry's list of potential buyers has whittled down over the past week as Microsoft announced plans to buy Nokia Corp.'s handset division for US$7.17 billion.

Chinese technology company Huawei also appeared uninterested after board member Chen Lifang told reporters in London the company isn't shopping for acquisitions, but will focus on its existing operations.

A report in the Wall Street Journal says BlackBerry has already narrowed the list of potential bidders,after announcing last month it would explore several "strategic alternatives," including its possible sale. The Journal cited unnamed sources saying an auction process could be completed as early as November.

BlackBerry has kept its options open since last year, when it hired two adviser firms to search for ways to shore up cash.

 

-- The Canadian Press

Republished from the Winnipeg Free Press print edition September 6, 2013 B8

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