[semperfi45]

Gov't gives Spanish company 285 million to purchase Blackberry phones.Don't believe this is a good use of tax payers money. I do now that gov't gives many companies our money. So much for a free market system. Can't find much on this,

[Duffman19]

It's a loan

Posted via CB10 from my BlackBerry zed one zero

[mset]

Well, technically they're not giving the money away. Export Development funds are loans. Whether we ever see the money back, I don't know. I'm not familiar with EDC's track record for recovering loaned funds.

What's weird is that Telefonica is a firm with $82 billion in revenue. Yes, billion. So that means... they need a paltry loan from the Canadian government? Did Spain's lenders look at the deal and say 'no thanks'?

[tonic27]

Any z10 s involved? Otherwise why is this here?

Posted via CB10

[djenkins6]

Telefonica seems to have 53 billion dollars debt, they are trying to reduce the depth by 5 billion thus year.

Posted via CB10

[R Field]

Yes the loan is to purchase BlackBerry 10 phones.

CB10- BlackBerry Z10

[R Field]

I don't see the bug deal its supporting a top notch Canadian product in emerging foreign markets. If they default on the loan its a different story. I'm sure they did their homework.

CB10- BlackBerry Z10

[semperfi45]

I don't see the bug deal its supporting a top notch Canadian product in emerging foreign markets. If they default on the loan its a different story. I'm sure they did their homework.

CB10- BlackBerry Z10

265 million and it is the Canadian Development Corp.

Thanks for the replies.
Canada lends $265M to Spain's Telefonica for BlackBerrys - Technology & Science - CBC News

[R Field]

http://m.crackberry.com/edc-helping-...erry-purchases there was an article written when the news first came out.

CB10- BlackBerry Z10

[semperfi45]

EDC helping Telefonica finance BlackBerry purchases | CrackBerry.com there was an article written when the news first came out.

CB10- BlackBerry Z10

Thanks for this R Field. I just saw a ticker on a news channel. I was unable to get more detailed info until I posted here. I guess if they purchase Z 10 phones by the time it runs through the system the money will come back to Canada.