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Blackberry selling most of its real estate – Canada no longer its home turf?

News   •   Jan 23, 2014 20:27 GMT

Blackberry is planning to sell most of its real estate in Canada. Does this mean that it will no longer call Canada its home turf?

According to the Wall Street Journal, “BlackBerry Ltd. said Tuesday that it intends to sell more than 3 million square feet of real-estate holdings in Canada, the "majority" of its space there, raising questions about whether the company will remain based in the country.”

The business news site added, “Though BlackBerry downplayed its significance, the move raises questions about whether the Waterloo, Ontario-based company will continue to call Canada its home turf. Most of BlackBerry's Canadian real-estate holdings are in Waterloo, though it also has offices in Toronto and other parts of Ontario.”

Blackberry CEO, John Chen, said in a statement, “BlackBerry remains committed to being headquartered in Waterloo and having a strong presence in Canada along with other global hubs. This initiative will further enhance BlackBerry's financial flexibility, and will provide additional resources to support our operations as our business continues to evolve.”

WSJ noted, “Mr. Chen, who was appointed chief executive and chairman in November, is based in Silicon Valley and commutes to Waterloo, along with several other recently appointed executives.”

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