Canadian Government Is Monitoring Potential BlackBerry Sale

The Canadian government has admitted it will be paying close attention as BlackBerry explores ‘strategic alternatives’ going forward, including a possible sale of the company.

The government has the power to overrule any major takeover for competition and national security reasons, but Industry Minister James Moore told Reuters that although it wished BlackBerry well and was keeping a close eye on developments, it would not comment on the company’s affairs.

He said he knew BlackBerry was restructuring in a manner that best suited its interests but would not speculate whether a foreign bid could run into difficulties, adding only that the government wanted the company to do well and keep employing Canadians. Earlier this year, Export Development Canada (EDC), the country’s export credit agency, provided Telefonica with a £170 million government loan to purchase BlackBerry smartphones and services.

BlackBerry sale

Chinese PC manufacturer Lenovo has been linked in the past with a bid for BlackBerry, but some have suggested the BlackBerry handset division is worthless and the most valuable parts of the company are its extensive patent portfolio and corporate customer base.

BlackBerry announced earlier this month that it was considering putting itself up for sale after Blackberry 10-powered devices, including the BlackBerry Z10 and Q10, failed to improve its fortunes significantly.

Once considered the leader in smartphones, BlackBerry has seen its market share eroded by the likes of iOS and Android, which have also closed the gap in in the administration and security features desired by corporate customers.

BlackBerry’s value has fallen from a 2008 peak of $84 billion (£54b) to $4.8 billion (£3.1b) in recent times, while it posted a £55 million loss in its most recent quarterly results.

What do you know about BlackBerry’s struggles? Our quiz looks at BlackBerry’s 2013!

Steve McCaskill

Steve McCaskill is editor of TechWeekEurope and ChannelBiz. He joined as a reporter in 2011 and covers all areas of IT, with a particular interest in telecommunications, mobile and networking, along with sports technology.

Recent Posts

The Cost of Tech Skills

The demand for tech skills is surging, driving economic growth but revealing challenges. Financial costs,…

11 mins ago

Supreme Court Says Meta Must Face Multibillion-Dollar Fraud Lawsuit

US Supreme Court tosses Meta's appeal over Cambridge Analytica-linked investor lawsuit, meaning case must proceed

13 mins ago

Uber Seeks $10m Stake In Pony AI Via IPO

Uber reportedly seeks $10m stake in Chinese autonomous driving firm Pony AI via US IPO,…

43 mins ago

Apple Developing ‘LLM Siri’ AI For 2026

iPhone maker reportedly developing next-generation AI large language model for Siri for spring 2026 as…

1 hour ago

Hong Kong Research Group Trains AI Model With Huawei Chips

Hong Kong-based AI research institute uses Huawei Ascend 910B chips to train latest model, as…

2 hours ago

Investors Shocked As Temu Parent Misses Estimates

Temu and Pinduoduo parent company PDD Holdings misses analysts' estimates as economic slowdown in China…

2 hours ago