Quantcast
Fairfax increases stake in Research In Motion - Metro US

Fairfax increases stake in Research In Motion

TORONTO – Fairfax Financial Holdings Ltd. (TSX:FFH), and its founder Prem Watsa, have taken a greater stake in Research In Motion (TSX:RIM).

The moves follows last weekend’s management shakeup at the embattled BlackBerry maker, which added Watsa to its board at the same time Jim Balsillie and Mike Lazaridis stepped aside as RIM’s co-CEOs.

A filing with U.S. regulators on Friday shows that Watsa, Fairfax and affiliated companies have boosted their holdings in Research In Motion to 26.85 million shares, or about 5.12 per cent of RIM’s outstanding shares.

Based on Thursday’s closing price at the Toronto Stock Exchange, the shares controlled by Watsa and Fairfax would be worth about $437 million.

More from our Sister Sites