Blackberry co-founders mull bid for struggling smartphone maker

BlackBerry co-founders Mike Lazaridis and Douglas Fregin are considering a bid to buy the struggling smartphone maker, according to a securities filing on Thursday, raising the prospect of an alternative to a US$4.7 billion offer led by its top shareholder.

The filing did not indicate whether the pair were planning to join or to present an alternative to a tentative US$9-a-share bid by a group led by Fairfax Financial. Fairfax, which is headed by financier Prem Watsa, has not yet identified other members of the group.

Lazaridis and Fregin together control some 8 per cent of BlackBerry, the filing said. That compares with roughly 10 per cent controlled by Fairfax.

Excluding Fregin’s shares, Lazaridis controls 5.7 per cent of BlackBerry, or about 60,000 shares more than he did at the end of last year, according to Thomson Reuters data.

Lazaridis, who until early last year was one of BlackBerry’s co-chief executives and co-chairmen, appears to be considering “the widest range of options possible”, BGC Partners technology analyst Colin Gillis said.

“He’s going to talk to people by himself; he’s going to talk to Prem; he’s going to talk to everybody,” said Gillis.

Fairfax declined to comment on the Lazaridis filing, which noted that while Lazaridis and Fregin could make an offer, they could opt to take other steps, including selling their shares.