BlackBerry shares soar on news of interest Cerberus - Terra Brazil

02 October 2013 • 17:00

A report about a possible second interested in BlackBerry Ltd led to the reversal of the decline in shares of the company on Wednesday, after the company announced cost of $ 400 million related to cost cuts.

newspaper The Wall Street Journal, citing sources familiar with the matter, said the BlackBerry has attracted interest from companies such as Cerberus Capital Management LP, which specializes in investing in troubled companies.

Cerberus plans to sign a confidentiality agreement with the BlackBerry that would allow the company to have access to private financial information, but in the end could not make a bid, the newspaper said.

Shares rose more than 1 percent, reversing a 5 percent decline recorded earlier in the session. The paper quoted at $ 8 in the early afternoon, still well below the range of $ 9 per share made by a consortium led by Fairfax Financial Holdings Inc, which wants to delisting the smartphone maker.

Both Fairfax

as BlackBerry refused to comment. “We do not intend to disclose the progress of the process until we approve a specific transaction or a review of strategic alternatives,” said a spokesman for the BlackBerry.

(By Alastair Sharp and Allison Martell)

Reuters – This publication including information and data are intellectual property of Reuters. It is expressly forbidden to use or their names without prior consent of Reuters. All rights reserved.