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BlackBerry reportedly pushing for November sell off

Lenovo reportedly most likely bidder
BlackBerry reportedly pushing for November sell off
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BlackBerry is looking to fast-track a proposed buyout of the company with a view to having any deals signed, sealed and delivered by November.

That's according to the Wall Street Journal, which claims "sources familiar with the matter" have revealed the Canadian giant has narrowed down potential new owners to a select band of North American financial firms and mobile manufacturers.

Those still involved in the process will then bid for the firm either as a whole or possibly in part, with BlackBerry's board reportedly looking for a quick sale.

News of this apparent acceleration comes days after Microsoft unveiled its acquisition of Finnish mobile specialist Nokia, with many commentators claiming said purchase further weakens BlackBerry's position in the market.

Game on?

However, as was evident at the Unite Conference in Vancouver last week, the company's supposed sell off comes as its games division continues to push for more developer support, cementing the platform's position as a viable home for developers.

Talk of selling off the business was first raised by CEO Heins just months after his appointment, commenting that it was "prudent to explore all the company's options".

Plans took a further step forward in January 2013 when Heins suggested to German paper Die Welt that the company would re-evaluate its options after the launch of BlackBerry 10.

The exact performance of BlackBerry 10 remains unclear, though third-party figures suggest it's losing ground to Microsoft's Windows Phone, with both platforms some way off challenging Android and iOS at the top of the tree.

The most likely bidder for the company's handset business as things stand is Chinese manufacturer Lenovo, with chief executive Yang Yuanqing having recently admitted his company would grasp the opportunity to consolidate if it presented itself.

[source: Wall Street Journal]