Renault to buy into Russian firm
From Times Wire Services
Renault, France’s second-largest automaker, agreed to buy 25% of Russia’s OAO AvtoVAZ, fending off a bid from General Motors Corp.
Renault will purchase the stake in Russia’s No. 1 car company from state-owned arms exporter Rosoboronexport, a spokesman for the defense firm said. He declined to give a price.
