Correspondent, Toronto, Canada
Alastair's Feed
Sep 27, 2013

BlackBerry reports deep loss, revenue drop, as warned

TORONTO (Reuters) – BlackBerry Ltd reported a nearly $1 billion quarterly loss on Friday, days after accepting its largest shareholder’s tentative $4.7 billion bid to take it out of the public eye.

BlackBerry, which had warned of the results on September 20, said its net loss for the second quarter ended on August 31 was $965 million, or $1.84 a share, while revenue fell 45 percent to $1.6 billion from a year earlier.

Sep 27, 2013
Sep 26, 2013
Sep 26, 2013

BlackBerry’s Heins, Fairfax’s Watsa and the $55 million handshake

TORONTO (Reuters) – Months before Fairfax Financial Holdings Inc bid $4.7 billion for BlackBerry Ltd, Fairfax boss Prem Watsa played a role in securing a golden parachute worth as much as $55 million for the smartphone maker’s chief executive, according to company filings.

Watsa, Fairfax’s chief executive, joined BlackBerry’s board in January 2012 and was one of three directors charged in March with reviewing the compensation of the Canadian company’s chief executive, Thorsten Heins.

Sep 25, 2013

Fairfax’s Watsa confident BlackBerry bid will succeed

TORONTO (Reuters) – Fairfax Financial Holdings Ltd Chief Executive Prem Watsa said on Wednesday he is confident the consortium he leads can find the money to fund its $4.7 billion bid for smartphone maker BlackBerry Ltd.

“We wouldn’t put our name to such a high-profile deal if we didn’t feel confident that at the end of the day that our due diligence would be fine and we’d be able to finance it,” Watsa said in an interview.

Sep 25, 2013

BlackBerry shares sink on growing unease about Fairfax bid

TORONTO (Reuters) – BlackBerry Ltd shares fell five percent on Wednesday on rising doubts a $4.7 billion takeover offer for the struggling smartphone maker by Fairfax Financial Holdings Ltd will succeed.

Shares of BlackBerry traded at $8.10 on Nasdaq in afternoon trading, well below the $9-a-share offer.

Sep 24, 2013

By going private, Blackberry may buy time to fix itself

TORONTO (Reuters) – A tentative deal to take BlackBerry Ltd (BB.TO: Quote, Profile, Research) private will not necessarily resolve challenges that pushed the smartphone maker into a corner in the first place, but it gives the struggling company some breathing room.

Private or public, BlackBerry’s problems remain the same: slumping market share, mostly uninspiring devices and cut-throat competition threatening the state-of-the-art security of the BlackBerry network.

Sep 24, 2013

Analysis: By going private, Blackberry may buy time to fix itself

TORONTO (Reuters) – A tentative deal to take BlackBerry Ltd private will not necessarily resolve challenges that pushed the smartphone maker into a corner in the first place, but it gives the struggling company some breathing room.

Private or public, BlackBerry’s problems remain the same: slumping market share, mostly uninspiring devices and cut-throat competition threatening the state-of-the-art security of the BlackBerry network.

Sep 24, 2013

Alberta says won’t join new markets watchdog without changes

TORONTO, Sept 24 (Reuters) – A newly proposed common
Canadian securities regulator would have to be altered
significantly for Alberta to sign on, the oil-rich province’s
finance minister said on Tuesday.

Last week, the Canadian federal government and two provinces
- Ontario and British Columbia – unveiled plans to set up a
common securities regulator as a first step to their goal of
replacing the current patchwork of provincial agencies.

Sep 24, 2013

Fairfax consortium bids $4.7 billion to take BlackBerry private

TORONTO (Reuters) – Smartphone maker BlackBerry has agreed to go private in a $4.7 billion deal led by its biggest shareholder, allowing the on-the-go email pioneer to regroup away from public scrutiny after years of falling fortunes and slumping market share.

The $9 a share tentative offer, from a consortium led by property and casualty insurer Fairfax Financial Holdings Ltd, will set a floor for any counteroffers that might emerge for Blackberry, which has been on the block since August.

    • About Alastair

      "Canada tech, media and telecoms reporter based in Toronto, with emphasis on Research In Motion and including coverage of Rogers, Bell Canada, Telus, the new mobile entrants and the tech companies filling in the gaps. Previously spent two years in Cairo bureau chasing Orascom Telecom's Naguib Sawiris. Prior to that, spent a year learning the ropes in London."
      Hometown:
      Melbourne, Australia
      Joined Reuters:
      2007
      Languages:
      English, Arabic
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