December 24, 2013 / 9:44 PM / 4 years ago

Co-founder Lazaridis cuts stake in BlackBerry

Mike Lazaridis, President and Co-CEO of Research In Motion, speaks during BlackBerry's DevCon at the Moscone West Center in San Francisco, California, October 18, 2011.Beck Diefenbach

(Reuters) - BlackBerry Ltd 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. (link.reuters.com/sup65v)

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

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.

Reporting By Narottam Medhora in Bangalore; Editing by Maju Samuel

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