Blackberry Abandons Sale To Shareholder
Instead, it intends to raise $1bn (£627m) in fresh financing.
Chief executive Thorsten Heins will step down and former Sybase chief executive John Chen will serve as interim chief executive.
Last month, Blackberry reported a second-quarter net loss of $965m.
Those losses were blamed on poor sales of its new smartphone, the Z10.
Source: BBC News