Telefónica gets €200m capital for BlackBerry procurement

Spanish operator group Telefónica has secured €200m of capital from Canada’s export guarantee body Export Development Canada (EDC) to support sales of BlackBerry across its global operations.

EDC confirmed that it has provided the working capital facility to the operator to improve the relationship between the two firms.

“EDC’s financing is really about making the transactions between BlackBerry and Telefónica easier, helping to enhance and broaden the relationship between these two major global players,” said Lewis Megaw, regional VP for Africa, Europe and the Middle East at EDC.

Trade between Canada and Spain reached $2.56bn in 2012 and EDC said that it has provided financing to Telefónica since 2006 to support its “various Canadian procurement needs”. According to the body, its working capital facility will facilitate BlackBerry’s market share to grow within Telefónica.