Mobilicity says it has sought and received creditor protection, has a deal in works that is currently being reviewed by Industry Canada.
TORONTO, Sept 27 (Reuters) – BlackBerry Ltd
reported a quarterly loss of nearly $1 billion on Friday, in
line with a warning it gave last week, just days after the
smartphone maker accepted its largest shareholder’s tentative
$4.7 billion bid to take it private.
The report showed Blackberry turned in a particularly limp
performance in Latin America, a region it recently touted as a
enthusiastic supporter of its devices.
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.
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.
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.
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.
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.