BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is up for sale, but the lack of potential buyers has made investors skeptical on the idea despite a recent surge in share prices of the Canadian firm. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) still has a list of probable buyers, but most of them are reeling under the challenges, or undergoing regulatory review, and some do not have efficient business structure to acquire BlackBerry, says a report from MarketWatch.

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BlackBerry shares up after the news of sale option

Over the past three weeks, the stock gained more than 13 percent after the revelation that the company has formed a special board committee to look into strategic options. Shares in this Waterloo, Ontario-based company, are still down by 20 percent from the level they were before it posted calamitous earnings on June 28.

On Wednesday, The Wall Street Journal released a report saying that BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is looking to speed up the selling process; the news fueled the stock price further. However, the stock price surge may not be necessarily due to this report—it may instead be a reaction to the news of Nokia being acquired unexpectedly by Microsoft, a deal which has shortened the list of potential buyers for BlackBerry.

Probable buyers

The first name in the list is Apple Inc. (NASDAQ:AAPL). Apple Inc. (NASDAQ:AAPL) is a cash rich company and can easily trigger this deal, but there is no relevant purpose for the iPhone maker to acquire BlackBerry. Apple Inc. (NASDAQ:AAPL) has been following the trend to acquire mostly startups and BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) does not fit into the criteria for obvious reasons.

Another potential candidate is South Korean electronic major Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) who can exhibit interest in BlackBerry OS. However, any foreign company seeking to buy BlackBerry will be strictly reviewed by regulators due to Canadian government’s interest in the company’s business, as well as, smartphone maker providing major services to the United States government.

With little cash, HTC is not as efficient buyer as the other two buyers. HTC is not in a position to acquire a company worth $7 billion. However, some of the analysts believe that HTC may bid for the Canadian Smartphone maker.

Other potential bidders

Other potential bidders may be Amazon.com, Inc. (NASDAQ:AMZN), Dell Inc (NASDAQ:DELL) and Hewlett-Packard Company (NYSE:HPQ), who are not essentially the phone manufacturers. Apart from any one company taking over BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) there is a chance that multiple bidders form a group and takeover or Canadian Investors come together to take the company private.