Activist Hedge Fund Manager Dan Loeb Reveals 2% Stake in BlackBerry

Posted by Techvibes NewsDesk

An activist hedge fund manager has been quietly taking an interest in BlackBerry.

Dan Loeb of Third Point disclosed over the weekend that as of the end of 2013 he owns 10 million shares of the Waterloo-based smartphone maker, which is roughly a 2% stake in the multi-billion-dollar tech firm. This stake makes him among the biggest shareholders of the company.

Fairfax Financial Holdings—which is run by Prem Watsa, who isn't Loeb's biggest fan—is BlackBerry's largest shareholder with a stake in excess of 10%. Watsa sits on the company's board as well, which makes it all the more interesting to see Loeb carve a slice of BlackBerry for his own tasting.

Photo: Bloomberg

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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