The backing of Canadian banks and pension funds would be central to a BlackBerry rescue plan led by Prem Watsa’s Fairfax Financial, the Canadian smartphone maker’s biggest shareholder, according to analysts.
Mr Watsa, whose Toronto-based investment firm owns 9.9 per cent of BlackBerry, is attempting to pull together a buyout consortium that would include Canadian banks and pension funds which together own a further stake of about 17 per cent, these analysts said.
Mr Watsa, a long-term value investor who has been described as Canada’s Warren Buffett, stepped down from BlackBerry’s board on Monday as the company set up a special committee to consider options including joint ventures, partnerships or an outright sale.