Fairfax ups investment in troubled BlackBerry

Jan 08, 2014 by Rob Gillies

Fairfax Financial Holdings is buying another $250 million of convertible debt in troubled Blackberry in what Fairfax's president says is a sign of confidence in the company's new management.

Fairfax, BlackBerry's largest shareholder, led an that injected $1 billion into the company last fall.

The insurance and investment firm invested $250 million as part of that initial deal, which gave it an option to make an extra $250 million investment before a Monday deadline.

Fairfax President Paul Rivett told The Associated Press his firm believes the market is only just beginning to see the true potential of BlackBerry under new CEO John Chen and the team he has assembled.

The BlackBerry was once the dominant smartphone before the debut of iPhone and phones running Google's Android software.

Explore further: Is big data still big news?

Related Stories

Cerberus interested in BlackBerry

Oct 02, 2013

Private equity firm Cerberus is interested in taking a look at BlackBerry's books as a prelude to a possible bid for the troubled smartphone company.

Qatari fund invests in BlackBerry

Nov 08, 2013

A Qatari sovereign wealth fund was among a small group of investors who recently contributed $1 billion to Canadian smartphone maker BlackBerry, US securities filings showed Friday.

Fairfax says it won't abandon BlackBerry bid

Sep 26, 2013

The head of Fairfax Financial Holdings Ltd. said Wednesday he has every intention of completing the acquisition of BlackBerry, despite doubts that the $4.7 billion deal for the troubled smartphone maker will ...

Recommended for you

Is big data still big news?

16 hours ago

People talk about 'data being the new oil', a natural resource that companies need to exploit and refine. But is this really true or are we in the realm of hype? Mohamed Zaki explains that, while many companies ...

Amazon pushes Prime service with day of deals

Jul 06, 2015

Amazon is trying to lure more subscribers to its $99 Prime loyalty program by pushing a day of discounts it calls "Prime Day" during the sleepier summer shopping season.

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.