BlackBerry’s Largest Shareholder Closing in on Rescue Deal, Report Suggests

Prem Watsa may be closing in on a rescue deal for Waterloo’s BlackBerry.

According to a report in The Sunday Times, the chairman of Fairfax Financial Holdings has assembled billions of dollars in backing from Canada’s biggest pension funds. The UK newspaper notes that shares in BlackBerry have fallen from $148 in 2008 to $11 this year but rose slightly on the news of a possible rescue.

Watsa, who is BlackBerry’s largest shareholder with a 10% stake, stepped down from the smartphone pioneer’s board in August. He cited a potential conflict of interest when the company announced it was putting itself up for sale.