BRUSSELS CLEARS RENAULT TAKEOVER OF RUSSIA’S AVTOVAZ
April 1st, 2008
BY KEITH NUTHALL
THE EUROPEAN Commission has granted regulatory merger approval to Renault's securing a US$1 billion 25% stake in Russia's AvtoVaz, which manufactures the country's long-established Lada range. The French carmaker is to share know-how and technology with AvtoVaz to boost the appeal of its models and improve marketing.
Brussels fast-tracked approval and attached no strings after concluding the deal would "bring about only a very minor increment in market share" commanded by Renault in the European Union, (plus Norway, Iceland and ...
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