BlackBerry abandon sell-off plan, continue to limp on

BlackBerry abandon sell off plan, continue to limp on

A planned sell-off to the largest Blackberry shareholder, Fairfax Financial Holdings, has today been dropped after failing to reach an agreement. The company are instead looking to raise $1 billion (some £627 million) in financing in order to continue operating.


The company has a Q2 loss of almost $1 billion, so if that trend has continued then these additional funds will only fill the hole. Chief exec, Thorsten Heins, is to step down as the $4.7 billion sale to a consortium headed up by Fairfax collapses. Fairfox will instead front-up $250 million of the $1 billion that BlackBerry is looking for.

Barbara Stymiest from Blackberry stated…

This financing provides an immediate cash injection on terms favourable to Blackberry, enhancing our substantial cash position.

Oppo release the ColorOS ROM for the Find 5
Moto G - Motorola are still kicking