Sep 10, 2013 / 12:16 pm
TORONTO - Shares of BlackBerry slipped nearly six per cent on Tuesday amid continuing layoffs and reports that a takeover involving Canada's major pension plans is unlikely.
BlackBerry (TSX:BB) shares were trading around $11.30 on the Toronto Stock Exchange on Tuesday afternoon, down 66 cents or 5.52 per cent.
That's after a nearly six per cent surge on Monday amid unconfirmed reports that Fairfax Financial Holdings (TSX:FFH) chairman Prem Watsa was closing in on a rescue deal for the troubled smartphone maker.
The Sunday Times newspaper reported that Watsa has assembled billions of dollars in backing from the Canada Pension Plan Investment Board and other Canadian pension funds to buy the Waterloo, Ont.,-based company.
But the Globe and Mail reported Tuesday that big pension funds have been reluctant to join Fairfax in a buyout consortium.
Meanwhile, BlackBerry has confirmed reports that it has laid off about 60 employees, mostly in sales.
"We are moving a small number of US-focused sales roles that were based in Canada to the U.S. to be more closely aligned with our customers," Lisette Kwong, senior manager of corporate communications, said in a statement.
"We are in the second phase of our transformation plan. As part of this transformation, BlackBerry will continually evaluate its organization â€” from top to bottom â€” to ensure we have the right people, with the right skills in the right locations to drive new opportunities in mobile computing."
Read more Business News
|QHR Technologies Inc||1.18||-0.01|
|Anavex Life Sciences||0.329||+0.014|
|Copper Mountain Mining||1.53||-0.05|
Big Picture Bank earnings and upbeat economic news highlight an active week In contrast with last week’s quieter, U.S. holiday-shortened week, the first week of December was a comparatively acti...
This column is the last of three, for how to prove your personal injury claim. It is the piece de resistance of the trilogy, the Chuck Norris piece – the final say! As mentioned in the first two...
The bank manager just phoned and asked for full and immediate repayment of the line of credit because the latest, (and they were late!), financial statements showed continuing losses and falling sales...
- Ad or not, soaring WestJet viral video a branding win: marketing experts
- Mobile trend will push phone, tablet ownership past PCs in 2014: IDC Canada
- Court strikes down several claims in wheat board lawsuit, but case move ahead
- Airlines forecast big profit jump to $19.7 billion in 2014 as fuel prices fall, demand rises
- US business stockpiles jump 0.7 per cent in October, biggest gain since January
- US hits firms evading Iran sanctions, while Congress debate over new measures goes on
- Bombardier and Embraer split American Airlines regional jet order
- Britain's phone-hacking trial hears Queen Elizabeth II annoyed by nut-eating police officers
- CPPIB buys portfolio of agricultural land from Assiniboia Farmland LP for $128M
- US unemployment aid applications surge to 368,000, reflecting bump in claims after holiday
- BoC's Poloz says low interest rates needed to keep deflation at bay
- New house prices rose in October after flat September: StatsCan