The Renault–Nissan alliance is expected to increase its stake in AvtoVAZ within two to three years, Sergei Chemezov, CEO of Russian state-owned industrial conglomerate Rostekhnologii, said.

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In October, Renault–Nissan said it was in talks on buying Russian investment bank Troika Dialog’s stake in AvtoVAZ. Renault–Nissan, Troika Dialog, and Rostekhnologii each own 25% plus one share in AvtoVAZ.

Renault chief Carlos Ghosn said earlier he saw logic in the carmaker taking a controlling stake in AvtoVAZ.

Following a meeting with Russian prime minister Vladimir Putin, Ghosn told reporters that increasing Renault’s current 25% stake would be a “logical development of our partnership”.

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