BlackBerry board initiates strategic review of portfolio, may separate businesses

BLACKBERRY Ltd

Board to evaluate strategic alternatives including possible separation of one or more businesses.
Retained Morgan Stanley & Co. and Perella Weinberg as financial advisors for the review.
Patent sale to Malikie Innovations Limited (Key Patent Innovations subsidiary) continues, pending regulatory conditions.
No timetable set; no assurance the review will result in any transaction.
CEO John Chen cites belief current valuation does not reflect execution plan.

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