NEWS

BlackBerry eyes sale of Waterloo, Ont., properties

10/02/2013 08:44 EDT | Updated 12/02/2013 05:12 EST
BlackBerry is reportedly considering selling some of its real estate in its hometown of Waterloo, Ont., as the one-time global smartphone leader continues to restructure the failing company, shrinking its workforce and looking for ways to extract value from its operations.

The Globe and Mail reported Wednesday that BlackBerry has asked real estate firms to suggest ways of tapping the value of about 20 properties the company owns in the Waterloo area.

The newspaper's sources said BlackBerry has asked for ideas that would generate the largest possible return from its real estate in as little time as possible, through a confidential process begun last week.

In an emailed statement to CBC News, BlackBerry said it evaluates its real estate on an ongoing basis to "ensure the company is optimizing resources."

"BlackBerry's

Restructuring to cost $400M

 facets of the company."

 layoffs,smartphone

a decline of 45 per cent from the same period last year.

Limited, one of BlackBerry's biggest shareholders. Fairfax valued the company at $4.7 billion, and under the deal would pay shareholders $9 a share, although some analysts have speculated that it will revise that offer downwards to as little as $7 a share given that BlackBerry's current stock price is below $8 on the Nasdaq.

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