Canadian Top Shareholder Now Frontrunner for BlackBerry and 2 Other Hot Stocks to Watch
BlackBerry Ltd. (NASDAQ:BBRY): Current price $11.46
London’s Sunday Times reports that BlackBerry’s number-one stockholder, Prem Watsa of Fairfax Financial Holdings, which holds a 10-percent position, has emerged as the front-runner to acquire the smartphone maker. Sometimes referred to as Canada’s “Warren Buffett,” Watsa comes forth as BlackBerry is trying to accelerate its sales process so as to find a suitor by November. The newspaper says that BlackBerry shareholder Prem Watsa is setting up a rescue deal for the company and has already lined up billions in backing from Canada’s biggest pension funds for an offer.
Although Fairfax had no response to a request for comment, a spokesperson for BlackBerry said that, “We cannot comment on speculation surrounding Prem Watsa and his efforts.”