Russia Backs a Renault-Nissan Stake in AvtoVAZ

Emerging Money submits:The Renault (RNSDF)-Nissan (NSANY) alliance is following through on its plans to buy a controlling stake in Russian car maker Avtovaz, having received permission to gradually do so from Vladimir Putin two weeks ago. This time, Nissan is grabbing 10% of the shares of Avtovaz, maker of the once-ubiquitous Lada.

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Prime Minister Vladimir Putin on Tuesday offered auto alliance Renault-Nissan a chance to buy a controlling stake in Russian carmaker AvtoVAZ, Renault CEO Carlos Ghosn said, the RIA-Novosti news agency reported."The prime minister said he is not against increasing Renault-Nissan's stake in AvtoVAZ, and it could be increased up to 50 percent," Ghosn was quoted as saying after a meeting with Putin in comments translated into Russian.

AP Photo/Shuji Kajiyama, FileTOKYO (Reuters) - Nissan and Mitsubishi on Thursday confirmed they are discussing a possible capital tie-up, after sources said Nissan is in advanced talks to take a roughly one-third stake in its scandal-hit rival.

CHENNAI: Japanese carmaker Nissan is preparing for a potential legal dispute with joint venture partner Ashok Leyland if parleys to sort out differences over platform-sharing, design and manufacturing fail, according to sources and internal communication accessed by ET. Legal counsellors from Nissan Motor Co, Japan have instructed top executives of Nissan Motor India to preserve documents relating to the loss-making joint venture and avoid oral or email conversations with executives of Ashok Leyland, the country's second-largest maker of trucks and buses.

Renault SA (RENA.PA) and Nissan Motor Co have entered discussions to reorganize their capital alliance structure in a bid to water down Paris's control of the French automaker, the Nikkei business daily reported on Wednesday. The paper said a plan being floated was for Renault to lower its stake in Nissan below 40 percent from the current 43.4 percent - a move that would, under French law, allow the Japanese partner's stake in Renault to carry voting rights. Officials at Nissan and Renault were not immediately available for comment.