Fairfax Financial Hikes Stake in CanWest

By Associated Press
November 28, 2007 | Comments (0)

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Fairfax Financial Holdings Ltd. said Tuesday it controls 11 percent of the voting shares for Canadian media company CanWest Global Communications Corp.

Fairfax Financial, a Canadian provider of property and casualty insurance, acquired 1.8 million voting shares of Canwest late Tuesday, giving it more than 11 million voting shares.

Fairfax said the shares were purchased through the Toronto Stock Exchange.

Shares of Fairfax Financial Holdings Ltd. rose $1.56 Wednesday to $301.21 in morning trading.

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