BlackBerry Expected To Lobby Canadian Government Over Foreign Entity Takeover

We had previously heard reports that there was some interest by a third-party who might be interested in purchasing BlackBerry, although the report has since cooled off and it has been suggested that the purchase might not be happening. Now according to a new report by Bloomberg, it seems that BlackBerry is getting a bit desperate to the point where they will reportedly lobby the Canadian government to allow a foreign company to acquire the company, which will allow the company to skirt around the Investment Canada Act which sets certain rules for Canadian companies who might want to sell themselves to a foreign entity.

BlackBerry has since filed the documents and is apparently set to meet lawmakers to discuss the possibility of the company selling itself to foreign companies, although it has been noted that this could be particularly tricky, especially since BlackBerry holds contracts with both the Canadian and American government, just to name a few, and we expect that these governments will not be too happy about an entity from another country acquiring BlackBerry and possibly getting their hands on their data.

In any case BlackBerry was last reported to be looking for a quick sale and hopes to complete it by November, but by the looks of things, it does not seem like the company will be able to meet their deadline.

Tyler Lee
Categories: Cellphones
Tags: BlackBerry