Banks not willing to support Fairfax Financial’s bid for BlackBerry?

Banks not willing to support Fairfax Financial's bid for BlackBerry?

Thus far, the only official offer to acquire BlackBerry came from Fairfax Financial Holdings which offered $4.7 billion for the struggling smartphone maker. However, they may not get the money needed to fund that deal.

According to Reuters, banks are skeptical about BlackBerry’s ability to get back on track and stay relevant in today’s smartphone market.

It is said that Fairfax head Prem Watsa is talking with multiple firms, including Bank of America, Merrill Lynch and BMO Capital Markets to put together a group for the deal, but has reportedly found such efforts stymied. That’s not to say he won’t be able to gather a group of interested parties, it’s just that things aren’t going as smoothly as planned.

Monday is an important date in this saga when we’ll know whether Fairfax will pursue its acquisition or some other party will jump in. An exciting weeks is coming…

[Via: TheVerge]

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