Bloomberg keeps on releasing new articles with just a few more details from an interview with Prem Watsa and John Chen. The latest focuses on BlackBerry being cash strapped for the next few quarters as they try to turn the ship around. Watsa and Chen have made clear that they plan on overhauling the company instead of selling it for parts. He told Bloomberg that after 3 months of trying to orchestrate this sale it would take up to 1.5 years to turn things around. Specifically he stated that:
“We went with the idea that the next three or four or six quarters are going to be tough,” Watsa said in an interview. “We expect the cash to stabilize somewhere there and then pick up — and finance it with enough cash to give us a long runway.”
Best of all is when he talks about the different assets from BlackBerry that they can “better exploit” he says that:
“The question is: Could we actually pool these pieces together and differentiate ourselves in the market?”
Thanks JJ for the tip! Let us know if you spot more!