Germany’s automotive concern Daimler AG is in talks with KamAZ to purchase another 5 to 6% stake in Russia's largest truck maker.

Mr Sergei Chemezov head of the Russian Technology state corporation said that "Daimler has not stopped negotiations after acquiring 10% of shares. We are discussing an increase in Daimler's stake in Kamaz to 15-16% and to a controlling interest by 2018."

Mr Chemezov said the price of the stake would be at the level of last year's deal. The German company acquired the 10% stake from Russian Technology and Troika Dialog, another Kamaz shareholder, in 2008 for USD 250 million. Daimler is supposed to pay another 50% in 2012 if the Russian producer performs well.

Mr Sergei Skvortsov MD of Troika Dialog said that the investment company had proposed that Daimler buy a 13.2% stake in the summer, but the auto giant said it was only ready to acquire a minimum package of shares.

(Sourced from RIA Novosti)