Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

BlackBerry Ltd T.BB

Alternate Symbol(s):  BB

BlackBerry Limited is a Canada-based company, which provides intelligent security software and services to enterprises and governments worldwide. The Company leverages artificial intelligence (AI) and machine learning to deliver solutions in the areas of cybersecurity, safety, and data privacy and specializes in the areas of endpoint management, endpoint security, encryption, and embedded systems. It operates in three segments: Cybersecurity, IoT, and Licensing and Other. Cybersecurity consists of BlackBerry UEM and Cylance cybersecurity solutions (collectively, BlackBerry Spark), BlackBerry AtHo, and BlackBerry SecuSUITE. The Company’s endpoint management platform includes BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces solutions. The IoT consists of BlackBerry QNX, BlackBerry Certicom, BlackBerry Radar, BlackBerry IVY and other Internet of things (IoT) applications. Licensing and Other consists of the Company’s intellectual property arrangements and settlement award.


TSX:BB - Post by User

Bullboard Posts
Post by scissors14on Feb 05, 2012 8:54pm
452 Views
Post# 19492922

PM wants RIM to grow as "a Canadian company"

PM wants RIM to grow as "a Canadian company"

Canada PM wants RIM to grow as "a Canadian company"

By Randall Palmer, David Ljunggren and Janet Guttsman | Reuters

OTTAWA (Reuters) - Canada's prime minister drew an apparent line in the sand on foreign takeovers on Friday, saying he wanted to see BlackBerry maker Research In Motion grow "as a Canadian company" and questioning whether hostile takeovers of key domestic firms are in the country's best interests.

In an interview with Reuters, Stephen Harper declined to speculate on how the government might react if a foreign firm put in a bid for hard-pressed RIM. But he singled out hostile takeovers and bids for what he described as "critical technology" companies as ones that the government might block.

"I can't make comments to you that would prejudice any kind of a bid, especially one that is completely hypothetical and may not happen," he told Reuters in response to a question about a possible foreign bid for RIM.

"But RIM, as you know, is a strong Canadian company. It's been an important part of the Canadian business landscape, and obviously we want to see that company succeed and continue to grow as a Canadian company."

RIM shares have slumped in recent years as the company's signature BlackBerry smartphone has lost ground to popular new rivals from the likes of Apple and Google. There has been considerable speculation that RIM could be sold, or broken up into valuable parts.

Speaking in an interview in his wood-paneled office in the heart of snow-covered Ottawa, Harper insisted that his Conservative government is still open to foreign investment, and noted that it had vetoed only two would-be takeovers. But not every foreign bid is good for Canada, he said.

"Takeovers of critical technology that the government's invested in, or ... hostile takeovers of key Canadian businesses, are obviously something that I think is widely understood is not in this country's interest," Harper said.

Under Canadian law, the government has the right to determine whether foreign takeovers over a certain size may go ahead. Its decision is based on whether the bid is of net benefit to Canada.

The vast majority of takeovers are approved, but Harper's government stunned investors in 2010 when it rejected a $39 billion offer for fertilizer producer Potash Corp from Anglo-Australian mining giant BHP Billiton.

After that rejection, the government said it would quickly draw up guidelines to clarify what was meant by being "of net benefit". There is still no date for when such guidelines might be published.

The federal government was an early investor in RIM, now the country's best-known technology company, with a C$34 million ($34 million) investment from its Technology Partnerships Canada in 2000. That was at a time when the still-new technology firm had annual revenue of $85 million.

Todd Coupland, an analyst at CIBC World Markets, noted that a hostile bid for RIM would be difficult enough, even without reservations about whether Ottawa would let it through.

"People are the lifeblood of that company, it isn't just hard assets. Making a hostile bid in technology and intellectual capital like that is going to be very, very tricky," he said.

RIM's volatile stock ended the day 1.9 percent lower at $16.88 on Nasdaq and down 2.3 percent at C$16.78 in Toronto.

Separately, the Conservative government is considering whether to ease restrictions on foreign ownership of telecommunications companies, but Harper declined to be drawn about what it might decide.

Decisions would come in "the very near future," he said.

(Additional reporting by Alastair Sharp in Toronto; editing by Peter Galloway and Rob Wilson)

Bullboard Posts