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A man is silhouetted against a video screen with the BlackBerry logo as he pose with a Blackberry Q10.
A man is silhouetted against a video screen with the BlackBerry logo as he pose with a Blackberry Q10.
(DADO RUVIC/REUTERS)

Fairfax’s BlackBerry rescue: An illusion at best?

BlackBerry Ltd. desperately needs a takeover bid. On Monday, it got the illusion of one.

Fairfax Financial Holdings Ltd. and the cellphone maker do not have an agreement whereby the insurer, which is sitting on a big stake in BlackBerry, will buy the company. They have a letter of intent – something some securities lawyers say they try specifically to avoid announcing in other cases.