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Icahn Not Interested in RIMM

October 17, 2011 | About:

It was previously rumored that activist hedge fund manager Carl Icahn was purchasing shares of Research In Motion (RIMM). Today, Icahn killed those rumors and said he was not interested in RIMM.

Icahn told CNBC, “I can only say right now that it's certainly not on our radar.”

Shares of RIMM are down 60% in the past year, yet Icahn does not appear to be tempted.

”All I can tell you is that these rumors get out and we don’t dignify them,” said Icahn.

I previously wrote that RIMM is most likely not an Icahn type of investment because other value investors like Prem Watsa still have confidence in the co-CEOs of RIMM. Thus, for Icahn to get involved and try to shake up the board at RIMM would cause conflict between current investors that continue to endorse the beleaguered management team at RIMM.

Tuesday is a huge day for RIMM as it hosts its annual developers’ conference in San Francisco, known as DevCon. The company typically uses the gathering to unveil new development tools and build support among developers for its BlackBerry family of devices.

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