The issue can be workarounded by calling preventDefault of the mousedown event when ComboBox item is clicked:
<telerik:RadScriptManager runat="server" />
<script>
var onDocumentClick = Telerik.Web.UI.RadComboBox.prototype._onDocumentClick;
Telerik.Web.UI.RadComboBox.prototype._onDocumentClick = function (e) {
if (!e) e = event;
var target = e.target || e.srcElement;
while (target.nodeType !== 9) {
if (!target.parentNode || target == this.get_element() || target == this.get_dropDownElement()) {
e.preventDefault();
return;
}
target = target.parentNode;
}
onDocumentClick.call(this, e);
};
</script>
<telerik:RadComboBox ID="RadComboBox1" runat="server" RenderMode="Lightweight" OnClientBlur="OnClientBlur"
CheckBoxes="true">
<Items>
<telerik:RadComboBoxItem Text="Item1" Value="1" />
<telerik:RadComboBoxItem Text="Item2" Value="2" />
<telerik:RadComboBoxItem Text="Item3" Value="3" />
<telerik:RadComboBoxItem Text="Item4" Value="4" />
</Items>
</telerik:RadComboBox>
<script>
function OnClientBlur(sender, args) {
console.log("Blur event");
}
</script>