There have been many rumors that suggest the largest shareholder of BlackBerry, Prem Watsa’s Fairfax Financial, has planned a scheme with Canada pension funds to take the company private.

However, some do not believe there’s any truth to those claims. “Why would Canadian pension plans buy this thing?” said John O’Connell, chief executive officer with investment firm Davis Rea Ltd. in Toronto, which doesn’t own a stake in BlackBerry or Fairfax. “There’s no indication that this business has bottomed, and every indication to show they continue to lose market share.”

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This has lead to BlackBerry reportedly preparing to lobby the Canadian government over foreign-takeover rule in case a domestic buyout doesn’t come to fruition.

Federal lobbying documents show BlackBerry will meet with lawmakers to discuss the Investment Canada Act, which sets rules for foreign acquisitions of local companies.

via Bloomberg