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BlackBerry boosted by $257 million Canadian loan to Telefonica

updated 04:50 pm EDT, Thu April 4, 2013

$257 million line of credit offered to EU, Latin America carrier

Canadian governmental agency Export Development Canada (EDC) is awarding a 200 million euro ($257 million) credit line to European telecom operator Telefonica. The grant is intended to help "facilitate BlackBerry market share growth" in the EU, according to the EDC. This is the first financing agreement Telefonica has received from the EDC specifically spelling out BlackBerry as the main beneficiary.

EDC's regional vice president for Europe, the Middle East and Africa Lewis Megaw said in a statement that the financing is about "making the transactions between BlackBerry and Telefonica easier, helping to enhance and broaden the relationship between these two major global players."

Telefonica is Europe's biggest carrier by revenue, and services Argentina, Brazil, Chile, Colombia, Czech Republic, Ecuador, El Salvador, Germany, Guatemala, Ireland, Mexico, Nicaragua, Panama, Peru, Puerto Rico, Slovakia, Spain, United Kingdom, Uruguay, Venezuela, and areas of the US.

by MacNN Staff



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