Watsa Still Loves BlackBerry; T-Mobile Is Breaking Up
It’s another day with more bad news for BlackBerry (NASDAQ:BBRY). Shares of the struggling smartphone maker fell during Wednesday trading on uncertainty that its buyout by Fairfax Financial Holdings would go through, and now, T-Mobile US (NYSE:TMUS) has announced that it will no longer carry BlackBerry devices in its stores.
On Wednesday, T-Mobile executive David Carey told Reuters that “keeping stock in the retail distribution system was inefficient” because demand for the devices has been so low. Carey went on to say to that the most interest in BlackBerry devices has come from business customers, who don’t usually shop in T-Mobile’s retail stores.
Meanwhile, BlackBerry has been quiet about the $4.7 billion buyout offer from Fairfax, the company’s biggest shareholder, leading to speculation that the deal would not go through. Fairfax CEO Prem Watsa took to the press on Wednesday to assure investors that his company’s offer is still firmly on the table.
“We wouldn’t put our name to such a high-profile deal if we didn’t feel confident that at the end of the day that our due diligence would be fine and we’d be able to finance it,” Watsa said to Reuters.