Fairfax Financial Holdings Ltd., the insurer run by Canadian investor Prem Watsa, doubled its stake in Research In Motion Ltd in a vote of confidence in the BlackBerry maker after Watsa joined the company’s board.
Fairfax owns 26.85 million shares of Research In Motion, up from 11.8 million shares in September, according to a filing with the U.S. Securities and Exchange Commission today. The company raised its stake to 5.12 percent, worth about C$437 million ($437 million) based on yesterday’s closing price.
via RIM Investor Fairfax Doubles Stake in BlackBerry Maker RIM – Businessweek.
