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Blackberry might go private

by on09 August 2013

Get rid of these pesky shareholders

Troubled mobile phone maker Blackberry is planning to sort out its woes and falling share price by going private.

According to Reuters, Chief Executive Thorsten Heins and the company's board is increasingly coming around to the idea that taking BlackBerry private would give them breathing room to fix its problems out of the public eye. No deal is imminent, however, and BlackBerry has not launched any kind of a sale process, the sources said. Even if it tried, BlackBerry could find it hard to come up with a buyer and the funding to go private.

BlackBerry, which had been pinning its hopes for a turnaround on its new line of BlackBerry 10 devices, but this never happened. Heins said the company was on the right track and just needed more time to fix its problems. He has more gear on the drawing board which will run on the BlackBerry 10 operating system over the next eight months.

The company has also been looking at options such as licensing its BlackBerry 10 software and other partnerships.

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