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Blackberry U-turn on sell-off plan

5 November 2013 Last updated at 09:58 GMT

The smartphone maker Blackberry has abandoned a plan to sell itself to its biggest shareholder, Fairfax Financial Holdings.

The company, which is big in Asian markets like Indonesia, saw its shares close down 16% following the news.

Fairfax was planning to lead a consortium of firms in a takeover of Blackberry, as Mariko Oi reports from the New York Stock Exchange.