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

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
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. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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