BlackBerry is about to benefit from a government loan to european telcom company Vodafone. Export Development Canada and Vodafone have announced a five year loan agreement which includes a $750 million commitment to BlackBerry. The $750 million will go to handsets, software and support services from BlackBerry. The total loan agreement is for $850 million.
The announcement comes as BlackBerry is about to launch the BlackBerry Classic handset. You could say the announcement couldn't come at a better time for BlackBerry, but the truth is, it's always a good time for BlackBerry to get some good news after years of spiraling downward with bad news.
This is the second time the EDC has loaned money to Vodafone. The company previously received $750 million and paid it back. This financing deal is expected to bring connections and activity to several Canadian companies.
The announcement comes as BlackBerry is about to launch the BlackBerry Classic handset. You could say the announcement couldn't come at a better time for BlackBerry, but the truth is, it's always a good time for BlackBerry to get some good news after years of spiraling downward with bad news.
This is the second time the EDC has loaned money to Vodafone. The company previously received $750 million and paid it back. This financing deal is expected to bring connections and activity to several Canadian companies.