Smart move by Telefonica Spain

TELEFONICA has borrowed €200 million from the Canadian government to buy Blackberry smartphones. The money has been loaned by Export Development Canada to ‘help foster a stronger relationship between the two companies’.

“EDC’s financing is really about making the transactions between BlackBerry and Telefonica easier, helping to enhance and broaden the relationship between these two major global players,” said EDC regional vice-president Lewis Megaw, who is responsible for Africa, Europe and the Middle East. The government body finances deals to help Canadian exports.