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Fairfax buys Blackberry debt
[January 09, 2014]

Fairfax buys Blackberry debt

(City A.M. (UK) Via Acquire Media NewsEdge) FAIRFAX Financial Holdings is set to buy another $250m (£150m) worth of BlackBerry's debt, providing the struggling smartphone maker with muchneeded cash.

The move by Fairfax, the Canadian property and casualty insurer run by investment guru Prem Watsa, will double the company's holdings of BlackBerry''s debt. Fairfax also owns a 9.9 per cent equity stake in BlackBerry, making it the company's largest shareholder.

(c) 2014 City A.M.

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