Canadian Government Federal Finance Minister Jim Flaherty said Friday his government would not block any foreign takeover of Research In Motion, saying that “they will be the masters of their own destiny.”
Although the Canadian Government may not block Research In Motion soliciting buyers, Â there would be some hurdles that a sale would consist of. Â Any sale would be subject to intense scrutiny by the U.S. and Canadian government, given the country’s Defence Departmentâs critical reliance on RIMâs secure encryption system.
RIM shares rose in trading Friday as investors weighed the odds that the new strategy will succeed following the Q4 and 2012 Year End Financial Call, and RIM highlighting it’s strategy for the future.
Its stock gained 94 cents, or seven per cent, to close at $14.63 on the Toronto Stock Exchange.