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Published: 10:57 | 24/9/16

McLaren deny Apple takeover is to take place

McLaren have denied reports that they are set for a takeover by tech giant Apple.

Reports this week had linked Apple with a buyout or significant investment in the Formula 1 manufacturer, with the Financial Times the first to break the story a month ago.

However, a McLaren spokesperson has poured cold water on the rumours, saying: "We can confirm that McLaren is not in discussion with Apple in respect of any potential investment."

The FT had reported that Apple were set to pay £1.5bn for McLaren, or alternatively make an investment to take part ownership.

The BBC are reporting that talks did indeed take place but that no deal could be agreed.

The same McLaren press statement did reveal that Apple "regularly" has "confidential conversations with a wide range of parties".

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