Credit agency Export Development Canada (EDC) said it had provided a EUR200 million working capital facility to Europe and Latin American operator group Telefonica, to “facilitate the procurement of BlackBerry smartphones, services and solutions across its worldwide operations”.
EDC said it has been providing financing to Telefonica since 2006 “in support of its various Canadian procurement needs” – the lion’s share of which has presumably gone to BlackBerry/RIM.
Lewis Megaw, regional VP for Africa, Europe and the Middle East at EDC, said: “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.”
Details of Telefonica’s potential BlackBerry procurement plans were not revealed. However, with the smartphone maker having recently launched its first new devices powered by a new – and unproven – platform, the operator is likely to be taking a measured approach to building up inventory.
EDC said that its funds will “facilitate BlackBerry market share growth within Telefonica”.