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Thu Oct 23 01:06:36 SAST 2014

BlackBerry shares tumble

Reuters | 15 February, 2013 02:25
File picture of former RIM CEO Balsillie
Research In Motion Co-Chief Executive Officer Jim Balsillie.
Image by: File picture / REUTERS

Shares of BlackBerry slipped yesterday after its former co-CEO, Jim Balsillie, disclosed that he had sold his once-sizable stake in the embattled smartphone maker.

In a regulatory filling yesterday, Balsillie said that by the end of last year he had sold his entire stake in the company. Balsillie, who resigned a year ago, owned about 26.8million shares, or a 5% stake in the company, as of December 31 2011. BlackBerry shares were down 3.4% at $13.52 in early trading.

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