Co-founder Officially Drops Bid For BlackBerry

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Co-founder Officially Drops Bid For BlackBerry

by Wochit 0:44 mins

Co-founder Officially Drops Bid For BlackBerry

by Wochit 0:44 mins

Mike Lazaridis, a BlackBerry co-founder and former co-CEO, has officially ditched his plans to acquire the company through a joint bid with a fellow co-founder. In dissolving the plan, Lazaridis' stake in the sagging company is now 4.99 percent. Under the now-defunct plan, which was announced in October, Lazaridis and fellow co-founder Douglas Fregin had combined stakes to reach 8 percent total ownership and said they were considering a purchase of the company. Last month, however, BlackBerry took itself off the market, and new management is trying to turn the company around .

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