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Daimler’s KamAZ Stake

By The Moscow Times

KamAZ jumped as much as 5 percent Friday after Sergei Chemezov, chief of Russian Technologies, said German carmaker Daimler planned to increase its stake in the vehicle maker.

Daimler intends to raise its stake from 11 percent to a blocking share of at least 25 percent, Chemezov said Thursday. Russian Technologies controls 49.9 percent of KamAZ.

(Bloomberg)


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