Breaking News

Swiss National Bank Introduces Negative Interest Rate of -0.25%
Tweet TWEET

KamAZ Headed for Four-Month High on Daimler Stake: Moscow Mover

OAO KamAZ (KMAZ), Russia’s biggest truckmaker, was poised for its strongest level in four months, after the head of its state-owned shareholder said Daimler AG (DAI) is seeking to gain a controlling stake.

The stock jumped as much as 23 percent, and traded up 14 percent at 44.66 rubles as of 5:58 p.m. in Moscow. A close at that level would be its highest since Sept. 21.

Russian Technologies Corp. is ready to sell a KamAZ stake to Daimler, Sergei Chemezov told reporters today in the Leningrad region.

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.