Top

Force India is up for sale!

Force India is up for sale!
Highlights

Force Indias shareholders would consider serious offers for the Britishbased Formula One team but there are none at present, according to coowner and...

London: Force India's shareholders would consider serious offers for the British-based Formula One team but there are none at present, according to co-owner and principal Vijay Mallya.

The Indian businessman, who has a 42.5 percent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name.

"If somebody comes along and wants to pay an attractive price for anything, you have to put your commercial hat on and think about it commercially, not emotionally," Mallya told Reuters at the British Grand Prix. "And that’s precisely where I am.

"I cannot comment on the status of offers or discussions. But there is no agreed offer on the table backed by cash."

Mallya is fighting in court against extradition to India on fraud charges, with Indian banks seeking to recover loans granted to his defunct Kingfisher Airlines.

His difficulties and those of co-owners Sahara Group have triggered speculation about the team's future. But Mallya insisted they had no bearing on the day-to-day running of the team.

India's Sahara conglomerate has been ordered to repay billions of dollars to investors in bonds that were ruled to have been mis-sold.

Show Full Article
Print Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
More Stories


Top