Unsubstantiated rumours surface of Icahn’s interest in RIM

Research In Motion (RIM) may be the next target to be split up given market speculation that investor Carl Icahn had taken a stake in the struggling company.

Rumours are that he has taken a stake, but there has been no confirmation at this time. The company’s shares rallied by over eight per cent at one point on the rumours.

Typically, when Icahn- through his investment companies – takes large stakes in companies he seeks a seat on the board for one of his nominees and tries to force the company to break up its assets and return the cash to shareholders.

The most likely option that has been talked about in recent months is splitting the messaging service of RIM from the handset hardware division and selling the two services as distinct entities. The company also owns around 2,000 patents, and Icahn was pushing Motorola Mobility to sell its patents before it agreed to the Google takeover.

RIM is under pressure over its recent performance, and there is ongoing shareholder disquiet about the way the top job is split between two people.