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    Russia Backs a Renault-Nissan Stake in AvtoVAZ

    Tue, 11/02/2010 - 15:14 EDT - WSJ Europe
    • PAID
    • RDF10

    Russia on Tuesday gave its backing to French car maker Renault SA and its Japanese alliance partner Nissan Motor Co. building up a 50% stake in car maker OAO AvtoVAZ.

    • Original article
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      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.

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