Blackberry stock jumps 9% on news it's selling real estate


BlackBerry shares jumped nine per cent today to close at $11.86, one day after the Waterloo, Ont., smartphone company said it would sell most of its Canadian real estate holdings.

The move was interpreted by investors as a positive development, with cash raised from its considerable assets available to finance the company's turnaround under the leadership of new CEO John Chen.

Jan 21/2014:

BlackBerry says it intends to sell the majority of its commercial real estate holdings in Canada, but will keep its headquarters in Waterloo, Ont.

The smartphone maker plans to use a combination of vacant sales and sale-leaseback arrangements in divesting the properties.

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