BlackBerry sale: why it's descended into farce
Things have taken a turn for the ridiculous in Ontario.
For a once-great company, BlackBerry is really making a hash of its sale.
While Nokia bowed out gracefully, fixing up its inevitable deal with Microsoft with minimal fanfare, the deal to sell BlackBerry is becoming much like the launch of its products: Drawn-out and tedious.
After seemingly arranging a deal to sell to key investor Fairfax Financial, the company said others would be welcome to bid.
It then turned out it had spoken to Google and attempted to draw Samsung and LG into a battle for its patents and enterprise network.
That’s understandable. Analysts have said already that the company is worth far more broken-up than as a single entity.
But now Fairfax appears to be struggling to raise the necessary $4.7 billion to push its deal through.
And to make things worse, Mike Lazaridis, the man who founded the company but oversaw its descent into irrelevance, says he wants to buy the company.
While Nokia bowed out gracefully, fixing up its inevitable deal with Microsoft with minimal fanfare, the deal to sell BlackBerry is becoming much like the launch of its products: Drawn-out and tedious.
After seemingly arranging a deal to sell to key investor Fairfax Financial, the company said others would be welcome to bid.
It then turned out it had spoken to Google and attempted to draw Samsung and LG into a battle for its patents and enterprise network.
That’s understandable. Analysts have said already that the company is worth far more broken-up than as a single entity.
But now Fairfax appears to be struggling to raise the necessary $4.7 billion to push its deal through.
And to make things worse, Mike Lazaridis, the man who founded the company but oversaw its descent into irrelevance, says he wants to buy the company.