Fosun in talks to buy Russian stake
Russian businessmanMikhail Prokhorov’s Onexim Group is in talks to sell a stake in Renaissance Capital bank to China’s Fosun International, Russia’s Vedomosti daily reported, citing three sources. Fosun could get a stake in RenCap that is smaller than a controlling one, the newspaper said. Earlier this year, Onexim sold a 20 percent stake in potash producer Uralkali. of industrial robot maker Kuka AG by Chinese household appliances company Midea Group, which has raised concerns in Berlin about losing control of important technology. The German government had sought a deal to limit the size ofMidea’s stake to 49 percent to try to curb the Chinese company’s influence on what it views as a national champion in a key industry. But subsequent decisions by major German shareholders to sell their stakes scuppered such plans.