Former Blackberry CEO Balsillie sells entire stake

Former Blackberry CEO Balsillie sells entire stake Zeebiz Bureau

Toronto: Blackberry’s former Co-Chief Executive Officer Jim Balsillie disclosed that he had sold his once-sizable stake in the company pushing Blackberry stocks lower on Thursday, a news wire said.

Balsillie told in a regulatory filing that by the end of last year he had sold his entire stake in the company. Balsillie, who stepped down as CEO a year ago, owned about 26.8 million shares, or a roughly 5 percent stake in the company, as of December 31, 2011.

Shares of BlackBerry were down 3.4 percent at USD13.52 in early trading on the Nasdaq, while its Toronto-listed shares fell 3.5 percent to Canadian dollar 13.51.

With Agency Inputs