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Lenovo was blocked from acquiring BlackBerry

November 6, 2013

The Globe And Mail reporting:

Ottawa made it clear in high-level discussions with BlackBerry that it would not approve a Chinese company buying a company deeply tied into Canada’s telecom infrastructure, sources said. The government made its position known over the last one to two months.

Sources said Lenovo was very interested and would likely have been willing to buy BlackBerry. But the Canadian firm could ill afford to spend months tied up with a security review that could potentially derail a transaction.

One of BlackBerry’s key concerns in looking for a buyer was speed and certainty. Any transaction with significant risk of falling through was a problem because BlackBerry might not have had time to execute a Plan B with the way its business has been declining.

Since the Canadian government interfered just a month before the deal, BlackBerry was left hanging and saved with a billion investment instead. If the Canadian government always interfere, who can buy the company then? Samsung? Google? HTC? Not likely, they’ll say they never approve foreign companies controlling Canada’s assets. What they really want is a Canadian company, but unfortunately not even Fairfax has enough money to buy BlackBerry. This is a really sad state of BlackBerry…

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