Russian Technologies will hold about 29 percent of AvtoVAZ after a share issue is completed and will reduce that to 25 percent when it sells part of its holding to Nissan Motor Co., Chemezov told reporters in Moscow today.

Chemezov told reporters during a European business conference in Moscow that Nissan will acquire a 6% stake in AvtoVAZ from investment bank Troika Dialog and another 4% from Rostekhnologii.

Chemezov's statement raises the possibility of up to 15% of the balance of the 25% stake Troika Dialogue owns being acquired by Renault which currently owns a 25% stake, bringing the total share in the auto alliance Renault-Nissan to 50%.

Prime Minister Vladimir Putin has offered the auto alliance a chance to buy a controlling stake in Russian carmaker AvtoVAZ, Renault CEO Carlos Ghosn said, the RIA-Novosti news agency reported.

"The prime minister said he is not against increasing Renault-Nissan's stake in AvtoVAZ, and it could be increased up to 50 percent," Ghosn was quoted as saying after a meeting with Putin.

The auto alliance currently controls 25 percent plus one share in the Russian carmaker. Stakes of the same size are held by Russian investment group Troika Dialog and the state corporation Rostekhnologii.

Avtovaz assembly line