Earlier in the session, BlackBerry shares had fallen as much as
A report in the
Cerberus has a long relationship with Canadian companies and in 2004 helped rescue
BlackBerry is in the midst of its own financial strife that has eroded the reputation of the company and its share of the smartphone market.
Late Tuesday, BlackBerry filed documents with the
The issued has gained heightened attention since the end of the quarter, with
BlackBerry stopped providing specific data for its subscriber base earlier this year, saying that it no longer accurately reflects its business model. However, the company has confirmed that "customers" continued to decline in the second quarter in every region except the Asian-Pacific market.
BlackBerry also said the cost of reworking its operations will likely be four times as much as it estimated earlier this year _ rising to at least
Those expenses will cover costs associated with the previously announced layoffs of 4,500 employees, the reworking of its smartphone lineup and other changes to its manufacturing, sales and marketing operations, it said.
The company has also launched an initiative to sell certain unnamed assets its considers "redundant'," including properties, as well as plants and equipment, though the company did not identify anything specific.
For the second quarter, BlackBerry said it booked a loss of
The Globe and Mail reported Wednesday that BlackBerry has asked real estate firms to suggest ways for tapping the value of its properties in the
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