BlackBerry ‘SOLD!’ to Fairfax Financial

After Nokia selling its handset operations to Microsoft, its time for struggling BlackBerry to sell off the business to Fairfax Financial. The deal has been signed for $4.7bn (£3bn).

The company said it has “signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence”.

The statement continued: “Diligence is expected to be complete by November 4, 2013. The parties’ intention is to negotiate and execute a definitive transaction agreement by such date.” reported bbc.co.uk.

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