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Wall Street Journal: BlackBerry sale likely to conclude by November

updated 06:33 pm EDT, Wed September 4, 2013

Board allegedly has slimmed prospective buyer list, to start process soon

Despite public proclamations less than a week ago that BlackBerry can survive as a niche phone manufacturer, sources are claiming that the company is going to run a very quick auction for itself that could be complete as soon as the end of November. The rapidity of the transaction is likely due to Microsoft essentially having removed itself as a suitor for the company, after its multi-billion dollar transaction for rival phone manufacturer Nokia.

According to the Wall Street Journal, shortly after the company formed its special committee to explore sale and other alternatives for the company, BlackBerry had discussions with parties interested in either the company as a whole, or parts. The committee has allegedly narrowed down the list of prospective suitors, and will start a sale process soon.

"Our view is that enterprises will further delay implementations and even die-hard consumers will catch wind that BlackBerry is for sale and not commit to the platform," National Bank analyst Kris Thompson wrote to clients earlier today. "The longer the strategic review lasts, the uglier BlackBerry's outlook may look."

The Journal sources claim that any deal for the company will probably involve more than one buyer, with each taking a piece of the company. While it is likely that the Canadian government will keep an eye on any potential sale, Canadian Industry Minister James Moore said it was unlikely that the government would interfere with any deal and that "it's for them to engage the market and provide devices and services, platforms, content that the market will receive well."




by MacNN Staff

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