Moscow government to acquire 51% stake in Moscow car company

The Moscow government is ready to purchase 51 percent of shares ofMoskvitch, a Russian car company, to offset the company's debt to the city,Senior Deputy Mayor in the Moscow government, head of the Property and LandRelations Board Oleg Tolkachov said at an Internet press conferenceorganized by RBC. The official pointed out "it may take Moscow 1.5 years tohaul the company back on track from its current bankruptcy". Tolkachovpointed out if the issue of the company acquisition was settled, the Moscowgovernment would update its facilities and launch a new staff policy. .

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&to=http://www.azlk.ru' target=_blank>MOSKVITCH