Renault could increase its stake in AvtoVAZ in the future, Sergei Chemezov, CEO of state-owned industrial conglomerate Rostekhnologii, said on the sidelines of a political party convention.

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Renault and Rostekhnologii each hold 25% plus one share in AvtoVAZ.


“In the future, they may think about increasing the stake,” Chemezov told news agency Prime-Tass. The French company had said that at present it is not prepared to up its stake, he said, adding that Renault could still increase the stake in 2013–2014.


Renault could receive a stake up to controlling in AvtoVAZ in the future, Chemezov also said, citing earlier statements made by Prime Minister Vladimir Putin.

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