BlackBerry Ltd's shares increased to as much as 3.6% last Tuesday. This was after Nokia announced to sell its handset unit to Microsoft Corp. The announced sale had ignited investor's optimism that the struggling smartphone maker could find a buyer.
A few weeks ago, BlackBerry officially put itself on the block amid lackluster of sales for its new line of smartphones.
BlackBerry shares jumped to USD10.48 early on Tuesday. It was up by 2.2% at USD10.34 in midday trading on the Nasdaq. The increase followed Microsoft's announced bid of EUR5.44 billion for Nokia.
James Cordwell, an analyst at Atlantic Equities said that it would be hard to tell if other would also take the same move as what Microsoft did and acquire BlackBerry. He said, "Nokia was already using the Microsoft's Windows platform, so integration-wise it is relatively straightforward. Whereas if anyone acquires BlackBerry, they will be acquiring it more for its network infrastructure and patent assets, as opposed to its handset business, so it will be a very differently driven deal."
Join the Conversation