UPDATE 1-Renault to pay over $1 bln for quarter of AvtoVAZ

Newswire

(Adds background) MOSCOW, Feb 29 (Reuters) - French carmaker Renault will pay over $1 billion for a stake of 25 percent plus one share in Russia's largest carmaker AvtoVAZ , a senior AvtoVAZ source told Reuters on Friday. "It will be over $1 billion, that is for sure," he said. The comment came a few minutes before the official signing of a deal between the French and Russian firms -- one of the largest investments by a French company in Russia following last year's landmark deal ...

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