A stake in Russian AvtoVaz, acquired by Renault in 2008 was the worst way to invest money, analysts of the company admit. At the same time Renault’s stakes in Japanese Nissan and Swedish AB Volvo brought profits to the company.
      
      The amount of net loss suffered by Renault owing to its stake in AvtoVaz is stated at ?33 million.
      Besides a 25% shareholding in AvtoVaz French automaker has got a 44.3% stake in Nissan and 20% in AB Volvo – both afforded Renault a good profit of ?345 million and ?226 million respectively.
      
      In 2007 investing in AvtoVaz seemed feasible – the carmaker’s earnings sized at RUR 3.7 billion offered good prospects. However, soaring prices on metals and high inflation rate making the company upraise prices on its key brand Lada turn AvtoVaz into a loss-making enterprise.
      
      source:
      Russian Business