MOSCOW: Japanese car maker Nissan and French partner Renault have suspended talks to take control of Russia's AvtoVAZ following the earthquake in Japan, an AvtoVAZ state shareholder said.
"The talks are suspended for now due to events in Japan," state owned Russian Technologies head Sergei Chemezov told Reuters on Friday.
Nissan and Renault together already own a 25 percent stake in the Lada maker and Renault has said the alliance may increase its stake above 50 percent over time.
Nissan was to set take a 10 percent stake in its own right from sellers Russian Technologies and Moscow bank Troika Dialog, Chemezov said late last year.
Nissan officials in Russia were not available to comment.
"In my opinion Nissan has postponed its expansion in Russia due to domestic problems in Japan.
Most likely they will return to negotiations on AvtoVAZ, but for now Nissan will focus on existing assets and resolving problems in Japan," said Igor Kraevsky, autos analyst at Moscow broker Otkritie.
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