Renault to buy into Russian firm
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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.
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