Proton denies Genii Capital is negotiating to buy Lotus

In the past few days, some websites have been carrying stories that Genii Capital, the company that currently owns the Renault F1 team is working on a deal to buy out a majority stake in Group Lotus.

In response to this story, Proton issued a short and sternly worded Media Statement denying the speculation.

The statement said: "PROTON hereby states that the alleged moves between Group Lotus and GENII Capital are untrue and that the news are highly speculative in nature.