Negotiations between Russian KAMAZ and Belarusian MAZ about the planned merger of assets are suspended for political reasons. This was stated by Director General of the Russian corporation Russian Technologies, Chemezov, on June 21. "We have been negotiating with Minsk, but hasn't advanced so far; apparently, the situation here has a pure political impact," he said.
«We can’t agree on anything so far,» RIA «Novosti» citing Chemezov.
According to Russian Technologies CEO, the Russian side is not satisfied with the proposal of the Belarusian plant on the matter. But, he added, the talks will continue when MAZ is ready to cooperate with KAMAZ.
As Telegraf previously reported, the corporation Russian Technologies invited to merge the Russian KAMAZ and Belarusian MAZ in February. 100% of MAZ shares are to be transferred to the Russian KAMAZ, while the Belarusian side is to receive a stake in KAMAZ.
Later, June 17, CEO of Kamaz Sergey Kogogin said that the difficult financial and economic situation in Belarus would not affect plans for a possible merger of KAMAZ and MAZ assets. According to him, the working group should determine suitability of the possible merger by the year’s end.
