Kremlin takes control of GM's Russian JV partner

Newswire

By Anton Doroshev TOGLIATTI, Russia, Dec 22 (Reuters) - General Motors got a Kremlin-backed partner to help boost its Russian joint venture on Thursday when officials from the state arms export agency took over management of AvtoVAZ, the maker of Lada cars. Analysts have been welcoming toward a greater state presence at ailing AvtoVAZ in the face of foreign competition. Shareholders at the company, which is partners with the U.S. car giant at the GM-AvtoVaz venture, elected a new board ...

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