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Canadian Government Monitoring Research in Motion Takeover Rumours
Published on:
Canada's government has been closely tracking reports of possible takeover bids for Canada based Research in Motion although it is not clear if the government would intervene in any such deals.
Citing heavily redacted documents from the office of the Industry Minister, Christian Paradis, the Reuters news agency reported that the Minister's aides have been regularly briefing him on the ongoing attempts by the struggling company to turn around its fortunes.
The Industry Minister has the power to block any foreign takeover of the company, although the documents do not demonstrate any view as to whether the Minister would exercise such powers.
The Minister was advised though to tell RIM CEO Thorsten Heins that he studies any takeover on a "case-by-case basis and make my decisions based on the facts and merits of each proposed investment..."
The briefing notes praised RIM as a "Canadian success" and said the government wanted the BlackBerry maker to remain a world leader.
Although there have been occasional rumours of a takeover bid for the company, the Canadian government's limits on foreign investors in key industries, particularly telecoms, has limited the potential for investors to bid for the company.
Currently it is banking on its forthcoming BlackBerry 10 operating system, which RIM is also looking to license to other companies.
On the web: Reuters
Tags: [research in motion] [Canada]
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