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GP Week : Issue 138
F1 NEWS >> Rain ruins Vergne’s Friday show-off chances MALAYSIAN car manufacturers Proton this week issued a statement denying that Gerard Lopez, owner of the Renault F1 team and Genii Capital, was buying a stake in Group Lotus. There had been reports that Proton were offloading a stake in Group Lotus to Lopez, and that Group Lotus CEO Dany Bahar was being shown the door. But according to Proton, the stories were little more than rumours to be quashed. “Proton hereby states that the alleged moves between Group Lotus and Genii Capital are untrue and that the reports are highly speculative in nature,” a statement released this week by Proton read. “Proton’s relationship with Group Lotus is as good as it has ever been. Our priority now is to ensure that the Lotus Business Turnaround Plan is executed according to schedule and that both parties are committed to its success. “Proton and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus’ new products and all our energy and efforts have to be channelled towards achieving this critical goal. “Furthermore, the scope of Lotus’ involvement in Formula One as title sponsor to Lotus Renault GP is to create dynamic marketing and branding synergies. “Proton does not wish to further entertain any unsubstantiated news of speculative nature and we hope this statement will put all speculation to rest. “However we wish to add, that as a proactive business entity, the Proton Group of Companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the Group’s interest.” Proton deny Genii Capital to buy Group Lotus For your daily dose of Formula 1 news ... 11