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Qualcomm CEO Says Was Looking at Some BlackBerry Assets

Nov. 6 (Bloomberg) -- Qualcomm Inc., the world’s largest maker of chips used in mobile phones, looked at some of the assets of BlackBerry Ltd. before the struggling smartphone maker unveiled a turnaround plan after a takeover deal collapsed.

“There were some assets that we were interested in and we were looking at, but obviously they got a new refinancing,” Chief Executive Officer Paul Jacobs said in a telephone interview today. When asked whether Qualcomm would contribute to attempts to turn around BlackBerry, he said, “they have their own strategy. We’re waiting to hear where they are headed.”

BlackBerry ended a review of its strategic options earlier this week after a $4.7 billion buyout deal with Fairfax Financial Holdings Ltd. was canceled. The smartphone maker is now raising $1 billion in convertible debt and will pursue a fresh turnaround plan under new interim CEO John Chen.

Cerberus Capital Management LP had teamed up with BlackBerry co-founder Mike Lazaridis to explore a bid for the company before the new plan was announced, and was in talks with Qualcomm about having the chipmaker join the coalition, two people familiar with the talks had said.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net

To contact the editor responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net

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