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BlackBerry's survival hinges on things happening this coming week

#1

If there ever was an important week for BlackBerry,
this coming one is it. Any bidders that want to
compete with the $4.7 billion offer from Fairfax
Financial will have to submit their bid to BlackBerry
tomorrow (Monday). There are rumors that two of
the company's founders, including former CEO Mike
Lazaridis , will be putting in a bid while some non-
financial firms like Cisco, LG, Samsung, Microsoft
and Google are said to be interested in the
beleaguered company
.
Fairfax Financial Holdings happens to be
BlackBerry's largest shareholder, but the $9 bid it
made to buy the rest of the company it doesn't own,
is lacking financing
. According to Reuters, banks are "declining to
participate on concerns that the smartphone maker
will not be able to reverse its fortunes ". Without
financing from a financial institution, the Fairfax
offer is worthless. The bidding team that includes
former founders Lazaridis and Douglas Fregin also
includes Cereberus Capital Markets. And there is
speculation that chipmaker Qualcomm will join this
group.
Before the year started, BlackBerry hoped that it
might be able to make a strong showing as the
number three OS and sneak in ahead of Microsoft.
But Windows Phone has momentum and a number
of new models that can go up against Android and
iOS. It isn't clear new ownership will be able to right
the ship at BlackBerry.
Source: phonearena


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