Report: RIM ponders phone and network split
Posted on 25 Jun 2012 at 11:33
BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, according to a report behind The Sunday Times paywall.
RIM, which last month hired JP Morgan and RBC Capital to look at its strategic options as the floundering company pondered its future, could break off its handset division into a separate listed company or sell it, the newspaper said without citing sources.
Potential buyers would include Amazon and Facebook, it reported, adding that RIM's messaging network could also be sold, or opened up to rivals such as Apple and Google to generate income.
An alternative option would be to keep the company together, but sell a stake to a larger technology firm such as Microsoft, the newspaper said.
RIM said in a statement that it continued to believe the best way to drive shareholder value was to execute its turnaround plan.
RIM is currently struggling badly in the smartphone market as Apple’s iPhone and Android handsets take centre stage.
Last year, it held numerous takeover discussions with potential buyers ranging from Amazon and Microsoft to private equity firms, sources have previously told Reuters. But those talks never resulted a deal under former co-chief executives Mike Lazaridis and Jim Balsillie.
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