TORONTO, March 20 Fairfax Financial Holdings Ltd
said on Thursday it has purchased an additional 3.4
percent of Torstar Corp, pushing its total holding in
the Canadian newspaper company to 22.7 percent.
Fairfax, a Canadian insurer and investment firm run by
well-known investor Prem Watsa, said in a statement the purchase
of about 2.4 million Torstar shares at C$5.35 a share was for
Torstar owns the Toronto Star, Canada's largest daily
newspaper by circulation, as well as other publishing assets.
Its stock closed at C$5.51 on the Toronto Stock Exchange on
Fairfax CEO Watsa has built a reputation as a shrewd
contrarian investor by moves such as betting against the U.S.
housing market in the last decade and reaping billions when the
Recently Fairfax has built a leading equity stake in
struggling smartphone maker BlackBerry.
(Reporting by Cameron French; Editing by Peter Galloway)