February 18, 2014 • 15h11
Shares of BlackBerry soar after operation announced by hedge fund
shares rose more than 6 percent in early trading on Tuesday, after the hedge fund Third Point, investor Daniel Loeb, said it bought 10 million shares of the smartphone maker.
Third Point announced on Friday that it now holds a 1.9 percent slice of the BlackBerry, making it the fifth largest shareholder of the company based in Waterloo, Ontario, according to Thomson Reuters data.
BlackBerry
shares rose 6.8 percent to $ 9.59 on the New York Stock Exchange, while in Toronto shares rose 6 percent to 10.47 Canadian dollars.
hedge fund is known to promote changes in companies in which it invests. Bought a slice of 7 percent on Sony last year and encouraged the Japanese company to separate its entertainment business.
also promoted changes in blue chips such as Dow Chemical and Yahoo.
(By Euan Rocha)
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