RIM's investor urges to explore selling itself or hiving patents news
07 September 2011

Research In Motion, the Canadian manufacturer of BlackBerry smartphones and PlayBook tablets has been told by one of its investor that the company should consider selling itself or auction its patents portfolio after a steady decline in its stock price.

Vic Alboini, CEO of investor Jaguar Financial Group, a little known Canadian merchant bank with around $12 million under management, said in an interview with Bloomberg that RIM should must consider selling itself or divest the company by selling its wireless patents in order to enhance value for its shareholders.

Alboini also proposed that RIM's board should take away the powers from Mike Lazaridis and Jim Balsillie, RIM's co-chief executives and create a committee of four or five independent directors to study those options.

''The status quo is not acceptable, the company cannot sit still,'' said Alboini. ''It is time for transformational change. The directors need to seize the reins to maximise shareholder value before more market value is lost.''

Alboini, who declined to disclose the size of his company's stake in RIM, said his suggestions have the backing of several large shareholders who collectively hold less than 5 per cent of RIM.

The move from investors come after the Waterloo, Ontario-based company has seen its once dominating position in the smartphone market being trampled upon by Apple, Samsung, HTC and other smartphone makers that run their devices on Google's Android.





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RIM's investor urges to explore selling itself or hiving patents