Struggling phone manufacturer BlackBerry will be aided by an effective government loan of US$256 million to Spanish network operator Telefonica.
The loan, provided by working capital from Export Development Canada (EDC), will allow the ailing operator to purchase the latest BlackBerry devices and services.
The EDC said on Thursday: “EDC’s financing is really about making the transactions between BlackBerry and Telefónica easier, helping to enhance and broaden the relationship between these two major global players.”
EDC funds has helped finance Telefonica since 2006. The Spanish operator has almost 316 million subscribers across 24 countries.
The touchscreen Z10, the first device to be launched on the new BB10 platform, is already available in most countries, while the Q10, which features the traditional full BlackBerry keyboard, will be ithe next device to hit the market.
