BlackBerry Ltd’s U.S. shares rose 3 percent on Monday after a report that a Canadian investor was closing in on a rescue deal for the battered smartphone maker that put itself up for sale last month.
The company’s shares rose to $11.17 in premarket trading after closing at $10.84 on the regular Nasdaq session after a report in Britain’s Sunday Times newspaper that Canadian investor Prem Watsa has backing from pension funds for a bid.
BlackBerry representatives were not immediately available for a comment.
Watsa’s company, Fairfax Financial Holdings, is BlackBerry’s biggest shareholder with 10 percent, and is seen as key to any decision about a sale of the Canadian company.
Watsa stepped down from BlackBerry’s board in August citing a potential conflict of interest with the company’s announcement that it was exploring strategic alternatives.
More on BlackBerry
BlackBerry sale gets more serious
BlackBerry to explore alternative strategies
Loading ...
Join the conversation Autoload comments
Comments section policy: