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Exclusive: VW in talks to buy stake in Russia's GAZ - sources

Reuters  |  MOSCOW 

By Gleb Stolyarov and Tatiana VoronovaMOSCOW (Reuters) - German carmaker Volkswagen is in talks to buy a stake in GAZ, a Russian manufacturer of light commercial vehicles (LCV), five sources familiar with the talks told Reuters. It was not immediately clear how big a stake is being discussed or the value of the deal. GAZ is a part of the Basic Element group that holds the assets of Russian businessman Oleg Deripaska. Both GAZ and Basic Element declined to comment, while a spokesman at VW headquarters said he does not comment on market speculation. "There are talks, they are trying to reach an ...

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First Published: Fri, December 01 2017. 22:32 IST