BlackBerry calls off sale, spurring doubts and stock plunge

[Wireless News]

http://l2.yimg.com/bt/api/res/1.2/1LlvqPP3HKik5Zs9DfOIYA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-11-04T212738Z_3_CBRE9A311H800_RTROPTP_2_CBUSINESS-US-BLACKBERRY-OFFER.JPG (http://news.yahoo.com/blackberry-calls-off-sale-spurring-doubts-stock-plunge-020705747--sector.html)By Euan Rocha, Allison Martell and Greg Roumeliotis TORONTO/NEW YORK (Reuters) - BlackBerry Ltd abandoned on Monday its plan to sell itself and said its CEO is stepping down, sparking a 16 percent dive in its share price and raising fears the struggling smartphone maker is running out of options. After a two-month review of strategic options and talks with potential buyers that included Facebook, Lenovo and private equity firms such as Cerberus Capital Management LP, BlackBerry said it will abandon a sale. Instead, it will raise $1 billion by issuing convertible notes to a group of long-term investors including its largest shareholder, Fairfax Financial Holdings. The only formal offer to buy BlackBerry - a tentative one - had come from Fairfax, which wanted to take the company private for $4.7 billion.



More... (http://news.yahoo.com/blackberry-calls-off-sale-spurring-doubts-stock-plunge-020705747--sector.html)