Directors hope to wrap up BlackBerry sale by November

BlackBerry directors hope to wrap up the sale process for the struggling Canadian smartphone giant by November, according to reports.

According to a Wall Street Journal report republished by The Verge, directors at the company are looking to hold a fast auction, with the aim of selling the company off by November of this year.

The reports also cite anonymous sources claiming the company has held preliminary talks with potential purchasers who are interested in purchasing the company in whole or part.

The company has also whittled down the list of potential suitors, with the sales process to begin shortly.

The latest news comes after the company’s shares rallied following the announcement of Microsoft’s takeover of Nokia, with some sources speculating Microsoft might also be interested in purchasing all or part of BlackBerry.

Earlier this week, BlackBerry director Bert Nordberg said the company might survive as a niche smartphone manufacturer, but non-core assets would have to be sold off.

As SmartCompany reported, the Canadian smartphone maker recently announced the creation of a special five-member board to examine sale options, on the same day its largest shareholder, Prem Watsa, dramatically resigned from the board of directors.

Watsa, whose investment firm holds a 9% stake in the company, is believed to be a pivotal figure in any takeover process.