Prem Watsa, CEO of Fairfax Financial Holdings Ltd, a Canadian insurer, has reported that they doubled the stake in RIM back on July 4th. Watsa moved up from owning 5.12% in January and now owns almost 10% of the company.
Watsa joined Research in Motion’s board back in January after Jim Balsillie and Mike Lazaridis left the company. His 9.9% stake represents 51.9 million shares, which are valued at C$356.2 million. RIM shares closed at C$6.87 on the Toronto Stock Exchange.