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Friday, September 17, 2021

Reuters: Qatar invests $200 million in Blackberry debt offering

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Blackberry

Scrapping plans to sell itself off, Blackberry Ltd. announced this week that it has fired its CEO and plans to stay afloat by raising $1 billion from a collection of investors – which apparently includes Qatar Holding.

According to Reuters, which cites a source familiar with the matter, Qatar’s sovereign wealth fund has bought some $200 million of the offering, while BB’s largest shareholder, Fairfax Financial Holding, has invested $250 million.

Under the convertible debt offering, investors could opt to convert their loan (which would be paid back with interest) into a stake in BB.

Canada-based Blackberry, while popular among many Qatar residents, has been struggling financially in recent months due to eroding market share from services like WhatsApp.

However, the company did see a surge in interest last month after the (delayed) launch of the Blackberry Messenger (BBM) on Android and Apple iOS phones, attracting 20 million users in the first week.

Despite the surge in interest, its stock continues to drop, as uncertainty over new leadership looms over the company.

Thoughts?

8 COMMENTS

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Sarah2473
Sarah2473
7 years ago

Since they’re investing in lost causes, how can I get in touch with Qatar Holdings for my Human Fund?

greg
greg
7 years ago

what is so special about Blackberry??

Kingpin
Kingpin
7 years ago
Reply to  greg

Nothing. That’s why they are on the verge of going bust.

Grantley
Grantley
7 years ago
Reply to  greg

They love Blackberry. I’m expecting to see one on display in the National Museum. Along with a Land Cruiser……..

Abdulrahman
Abdulrahman
7 years ago
Reply to  Grantley

And Qatar Airways 1st class ticket to London 😉

MIMH
MIMH
7 years ago

Unless they know something I don’t this seems a crazy investment

DavidRSS8
DavidRSS8
7 years ago

The next big investment is sure to be the pager, car phone, and fax machine.

jh125486
jh125486
7 years ago

Blackberry still openly shares all their calls/SMS with any government that asks: http://news.cnet.com/8301-1035_3-20012988-94/report-rim-to-let-saudis-monitor-blackberry-data/
One of the reasons that the GCC still loves them.

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