COMPANY NEWS - TIFFANY SELLS STAKE IN CANADIAN MINING COMPANY - NYTimes.com

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Tiffany & Company, the jewelry retailer, said yesterday that it sold a 13.9 percent peg in the Aber Diamond Corporation, a Canadian mining enterprise, as $268 million. Tiffany paid approximately $70 million for the stake in July 1999 to aid Aber finance its Diavik diamond mine in Canada's Northwest Territories. Aber said aboard Monday that it would not longer sell diamonds to Tiffany for fewer than market value and admitted to heave restrictions on the marketing of Tiffany's stake. Tiffany, based in New York, said there was no longer a need to preserve the investment in Aber, based in Toronto. Tiffany's said earnings from the marketing would heave its pretax proceeds at $194 million for the quarter ending Jan. 31.