Qualcomm Also in Talks to Join BlackBerry Bid

Friday, November 1, 2013

Qualcomm Also in Talks to Join BlackBerry Bid

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Qualcomm has been added to the list of companies that will reportdely bid for BlackBerry Ltd., the Wall Streeet Journal reported on Friday.

Qualcomm is said to be joining private-equity Cerberus Capital Management LP, which is also in talks to join BlackBerry co-founders Mike Lazaridis and Doug Fregin who have said they are considering a bid as part of an auction of the company.

China's Lenovo Group and Fairfax Financial Holdings Ltd. have also initiated the auction process with a preliminary deal for BlackBerry in September. However, Fairfax is reportedly struggling to raise financing for its $4.7 billion bid, as banks are declining to participate on concerns that the smartphone maker will not be able to reverse its fortunes, Reuters reported on Friday.

Fairfax and BlackBerry declined to comment.