BlackBerry bid 'won't be abandoned'

AOL Money Staff

The head of Fairfax Financial Holdings says he has every intention of completing the acquisition of BlackBerry, despite doubts that the 4.7 billion-dollar (£2.9bn) deal for the troubled smartphone maker will go through.

BlackBerry announced earlier this week that Fairfax signed a letter of intent that "contemplates" buying BlackBerry for nine dollars (£5.60) a share. Fairfax, BlackBerry's largest shareholder, is trying to attract other investors.