BlackBerry's biggest shareholder is confident of raising 4.7 billion of billions of dollars to buy BlackBerry

Prem Watsa, chief executive of Fairfax Financial Holdings Limited, the company's largest shareholder, said in Wednesday that he was confident that his consortium would raise the $4.7 billion trillion needed to buy blackberries within a set time. Prem Watsa said that if they did not have confidence and would not be so high-profile to launch the acquisition.

The consortium, headed by Fairfax Financial Holdings, proposed a 9 dollar bid for the BlackBerry in Monday, giving the ailing BlackBerry a better chance to become a private entity, away from Wall Street and concentrating on its business.

The Wednesday closing price of the BlackBerry stock fell 1 dollars more than the offer, suggesting investors are sceptical about the success of the deal. In response, Prem Watsa, chief executive of Fairfax Financial Holdings, said the short-term volatility of the BlackBerry stock was normal and that they had never paid much attention to the stock market.