MOSCOW: 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 said. 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. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
