FRANKFURT/MOSCOW, March 11 (Reuters) – German truckmaker Daimler said on Monday it aimed to raise its stake in Russian peer Kamaz, after Kamaz’s Russian shareholder said talks had stalled over price.
Daimler, which owns 11 percent of Kamaz directly, has a partnership agreement that would allow it to increase its holding either this year or next, or in 2015, according to trucks chief Andreas Renschler.
“Generally speaking, we intend to raise our share in Kamaz,” a spokesman for Daimler Trucks said.
Read more…