PRAGUE (Thomson Financial) - Czech used car dealer AAA Auto Group NV confirmed that it is in talks to form a joint venture with Russia's Rolf Group, a spokesman for the Prague and Budapest-listed company told Interfax.
'I can confirm that our plans on the Russian market are very serious and we are in negotiations with Rolf Group,' the spokesman said, declining to say exactly what form a potential AAA Auto-Rolf Group joint venture could take.
Earlier, Czech-based CTK newswire reported that the two companies wanted to form a partnership in order to sell cars in the Russian market.
Rolf Group distributes new Hyundai, Mitsubishi, Audi, Ford and Mazda vehicles in Russia.
Its annual sales are expected to reach 3.9 bln usd this year. alfred.kueppers@thomson.com amk/hjp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
