Going Private
Watsa said in a September interview that taking BlackBerry private would give the company the chance to reorganize outside of the glare of analysts and the media. He gave little indication of how the turnaround would work, though.
Fairfax, which has a portfolio worth about $24 billion, owns stakes in industries ranging from Irish banking to Canadian cattle feed. The firm has made contrarian investments, including a profitable bet against the U.S. housing market, and is now wagering on Greece’s recovery. Watsa recently spent $164 million euros ($222 million) to more than double his investment in Athens-based Eurobank Properties Real Estate Investment Co.
BlackBerry faces long odds in the smartphone industry. The company has been losing market share for years after being slow to add the kind of features and applications offered by Apple.