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BlackBerry co-founder Mike Lazaridis walks away from takeover and sells $26m of his shares

Mike Lazaridis, co-founder of BlackBerry, has walked away from plans of a takeover for the company and has sold $26m of his stock.

Lazaridis now only owns 4.99 per cent of the company.

He had expressed interest, along with co-founder Douglas Fregin, in buying the company in October, and hired hired Goldman Sachs and Centerview Partners to evaluate "strategic alternatives" but according to the filing that agreement has now been terminated.

This comes after BlackBerry announced £2.68bn in losses in Q3 of this year.

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