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RIM nears picking JPMorgan Chase as financial advisor

updated 03:15 pm EDT, Fri April 20, 2012

RIM just days away from picking JPMorgan: insider

Canadian smartphone maker RIM is closer to picking its financial advisor and JPMorgan Chase & Co is the leading candidate, Bloomberg reported on Friday. A source who wished to remain anonymous said the decision may arrive in a matter of days. The company is considering a licensing deal for its tech or a strategic investment, sources indicated, and has even talked with Bank of America.

Representatives from all companies didn't comment, calling the reports simple rumors at this point. The Canadian company would rather license its BlackBerry OS, said another source. It's also developing a new version of the OS, BlackBerry 10, with the first handset running on it due to be released later this year.

The licensing deal doesn't require a bank or financial partner, but it does take precedence over finding such a partner. The company doesn't plan to sell itself, the insider said.

Analysts disagree, however, stating that a banker is always hired in order to help with the sale of a company or its parts, and never for licensing negotiations.

by MacNN Staff



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