MOSCOW, May 28 (Reuters) - Russia's largest car maker Avtovaz AVAZ.MM, in which France's Renault RENA.PA has a quarter of the shares, has delayed plans to float more stock until 2009, a Russian media agency reported on Wednesday.
“We will not manage to do it by the autumn, it will probably be in 2009, I hope in the first half,” Interfax news agency quoted the head of state corporation Russian Technologies Sergei Chemezov as saying.
Russian Technologies, Renault and Troika Dialog brokerage each have a 25 percent stake in Avtovaz.
Troika has said it wanted to float the whole or part of its 25 percent stake in a secondary offering in London and Moscow to increase the stock’s liquidity. Troika was not immediately available for comment on Wednesday.
The shares of Avtovaz were down 1.5 percent by 0830 GMT, underperforming the broader market .MCX. (Reporting by Dmitry Zhdannikov; editing by Rory Channing)
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