Fairfax Scooping Up Another $250 Million in BlackBerry
BlackBerry today indicated that Fairfax Financial Holdings will purchase another $250 million in debentures from BlackBerry, which should help improve its cash position. Fairfax already owns a 14% stake in BlackBerry and late last year bought $250 million in debt financing. Today's investment boosts its share of BlackBerry debentures to $500 million. BlackBerry took on the investment late last year after failing to sell itself to private investors. The company has struggled to sell smartphones in the face of fierce competition from rivals such as Apple and Samsung.
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