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AbitibiBowater shareholder cuts stake to 1%
By Lisa Kerner
Charlotte, N.C., Feb. 4 - George Karfunkel sold 2,444,737 shares of AbitibiBowater Inc. on Jan. 30 for $0.80 per share in open-market transactions on the New York Stock Exchange, dropping his interest in the company to 1%, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.
According to a prior SEC filing, Karfunkel purchased 3 million shares of AbitibiBowater on Dec. 19 for $0.32 per share, giving him an initial 5% interest in the company.
Karfunkel owns 555,263 shares of AbitibiBowater's outstanding stock.
AbitibiBowater is a Montreal-based producer of newsprint, commercial printing papers, market pulp and wood products.
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