Support The Moscow Times!

Daimler Said to Raise KamAZ Stake

German carmaker Daimler is in talks to increase its stake in truckmaker KamAZ, Interfax reported, citing Daimler executive vice president Hubertus Troska.

"There are two parties in the talks: a buyer and a seller. We are interested in increasing our stake in KamAZ," Troska was quoted on Friday as saying in Naberezhniye Chelny, where KamAZ is based.

Troska said he could not put a time frame on the talks, Interfax added, and did not specify who the seller was.

A spokesman for Daimler told Reuters that the firm "currently has no offer" to raise its stake.

Daimler has an 11 percent stake in Russia's top truckmaker, while the European Bank for Reconstruction and Development has 4 percent.

A source close to KamAZ shareholders said in January that investment bank Troika Dialog, owner of 27 percent of KamAZ, may offer Daimler another 10 percent stake.

Head of Daimler Trucks Andreas Renschler told Reuters on Tuesday that he "could imagine raising" the stake.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more