Printed from http://www.electronista.com

BlackBerry breakup talks resume as Fairfax fails to find funding

updated 09:34 am EDT, Thu October 10, 2013

Fairfax may be forced to pay fee

Talks surrounding a potential BlackBerry breakup have reportedly resumed, as Fairfax Financial Holdings is said to have encountered trouble finding funding for its $4.7 billion buyout offer, unnamed sources have told Bloomberg. Advisers from the struggling handset maker are said to have approached companies including Cisco Systems and Samsung, however the potential buyers reportedly expressed interest only in partial assets such as patents or the company's enterprise network.

Fairfax, which already holds a 10 percent stake, stepped in with an offer of $9/share after the stock lost nearly 20 percent of its value in the previous trading day. The group is said to have approached Bank of America and BMO Capital Markets, among other potential investors, however the efforts appear to have failed in raising the entire $4.7 billion necessary to honor the offer.

Some analysts reportedly view a breakup as a better deal for BlackBerry and potential buyers, as the company's patents alone are estimated to be worth as much as $3 billion. Separate estimates of the enterprise network suggest it may fetch more than a billion, and the company still holds $2.6 billion in cash.

Fairfax and BlackBerry have yet to publicly confirm details from the latest report.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, we ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look good a ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

Advertisement

toggle

Most Commented