Renault to buy bigger stake in Russian unit -Ifax

Newswire

MOSCOW, Sept 22 (Reuters) - French car firm Renault plans to buy a 26 percent public stake in its Russian joint venture Avtoframos when the shares go up for auction, Interfax agency quoted the subsidiary as saying on Wednesday. Renault owns Avtoframos with the Moscow city government, but Mayor Yuri Luzhkov has signed an order for a 26 percent stake to be sold at auction with a start price of 715 million roubles ($24.5 million), the agency said. No date has yet been set. "After the ...

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