Renault increases stake in Russian joint venture

Newswire

MOSCOW, Oct 28 (Reuters) - France's Renault has increased its stake in a joint venture with the Moscow government to 76 percent by buying 26 percent from the city, a spokeswoman said on Thursday. Renault spokeswoman Vanessa Levy said Renault had bought Avtoframos shares at an auction for 1.215 billion roubles ($42.25 million). She said two other firms participated in the sale. Avtoframos was set up in 1998 to assemble and import Renault cars. Renault has previously said it planned to ...

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