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Co-founder Lazaridis cuts stake in BlackBerry

Mike Lazaridis, co-founder and vice chairman of BlackBerry.
Aaron Harris | Bloomberg | Getty Images
Mike Lazaridis, co-founder and vice chairman of BlackBerry.

BlackBerry co-founder Mike Lazaridis cut his stake in the company to 4.99 percent from 8 percent, and said that a group, which included Lazaridis, walked away from exploring a bid for the troubled smartphone maker.

Co-founders Lazaridis and Douglas Fregin in October disclosed in a regulatory filing they were considering a bid to buy the company.

(Read more: Why BlackBerry's big enterprise bet won't work)

BlackBerry abandoned its plan to sell itself last month after a two-month review of strategic options and talks with potential buyers that included Facebook, Lenovo and private equity firms such as Cerberus Capital.

By Reuters

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