Daimler gets green light to increase stake in Kamaz

MOSCOW: German truckmaker Daimler has been given the green light by Russian regulators to increase its stake in Kamaz to a blocking level of 21 percent, Russia's Federal Anti-monopoly Service said on Monday.

Daimler has long been in talks to increase its minority 11 percent holding in Russia's state-controlled truckmaker Kamaz, but has yet to agree a deal.

The group has the right of refusal for a 10 percent stake from investment bank Troika Dialog, now part of biggest state lender Sberbank. The Russian Technologies state conglomerate is also a potential seller of part of its 49.9 percent stake.