Tuesday, October 8, 2013

BlackBerry Faces Breakup in ‘Bizarre’ Sale, $70 Billion Fund Says $bbry $nok $goog $csco $aapl

BlackBerry Faces Breakup in ‘Bizarre’ Sale, Fund Says $bbry $nok $goog $csco $aapl

De Bever, 65, said there are discussions among investors about valuing particular BlackBerry units and a split of the company may be in the cards.
“We were looking at the individual assets because that’s how you understand the whole company,” de Bever said. “But it doesn’t necessarily mean that we want to take a carving knife to BlackBerry. The odds are that’s what’s probably going to happen.”

Unit Values

Alberta Investment, which manages C$69 billion ($67 billion) for 310,000 current and retired government workers in Alberta, would be more willing to consider an investment in BlackBerry if there was a strategic buyer such as Google Inc. (GOOG) involved, de Bever said.
Aimco, as the fund is called, also wants to see the value of the company’s units disclosed, and a business plan for developing those units in the future, de Bever said from Edmonton, Alberta. Fairfax, led by CEO Prem Watsa, hasn’t named any backers for its $4.7 billion bid and hadn’t secured financing at the time the proposed offer was announced.

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