Fo­sun in talks to buy Rus­sian stake

China Daily (Canada) - - BUSINESS -

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.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.