BlackBerry planning to sell some of its real estate assets
BlackBerry has recently lost much of its market share to iPhones and Android phones. Last month, an article said that BlackBerry are preparing to cut 4,500 jobs, which is over one-third of its labour force.
According to the Globe and Mail, BlackBerry Ltd. is contemplating selling a portion of its property, with the intention of raising funds. Sources, who did not wish to be identified, claimed that the struggling smartphone marker has asked realty firms to propose ideas to produce the largest conceivable returns within the smallest-possible timeframe.
The newspaper also added that the Canadian company is planning to sell some of their properties and leases back, while contemplating other choices.
BlackBerry has recently lost much of its market share to iPhones and Android phones. Last month, an article said that BlackBerry are preparing to cut 4,500 jobs, which is over one-third of its labour force. The newspaper article also quoted a statement by BlackBerry Ltd. that said that the company was making efforts to augment space and slash costs.
Blackberry Ltd. has reportedly signed $9 a share deal that is to be procured and taken private by a conglomerate that is headed by Fairfax Financial Holdings Ltd. However, its stocks are falling considerably below the original offer price, which is a clear signal to investors who are already wary about the deal’s success.
Following the earnings of the property sales, BlackBerry will become more lucrative for potential procurers. However, these potential buyers, who include Fairfax, will look into a comprehensive approximation of the asset value before procurement