EBRD ready to sell its stake in AvtoVAZ-GM venture


MOSCOW, May 29 (Reuters) - The European Bank for Reconstruction and Development said on Tuesday it is ready to sell its 16.8 percent stake in the joint venture between Russia's state-controlled AvtoVAZ and General Motors to the two companies. "We have been in the joint-venture since 2001, it's an extremely long time for the EBRD to stay," Richard Wallis, EBRD's spokesman in Moscow told Reuters. "Other projects could benefit from the money that had been invested." Wallis declined to say for ...

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