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Dennis seeking to increase stake in McLaren
Ron Dennis is attempting to increase his own stake in McLaren by buying back shares in the company from the Bahrainis.Currently, Dennis owns 25 percent of the company, Mansour Ojjeh (chief executive of TAG Group (Holdings) S.A), another 25 percent and Bahrain's sovereign wealth fund Mumtalakat the remaining 50 percent.The news that Dennis is attempting to buy back Mumtalakat's stake was revealed by Bernie Ecclestone on Thursday however, the F1 supremo got it wrong.Asked about the relationship between the Bahrainis and Dennis, Ecclestone said: 'They are nothing more to do with the race team any more. They have sold the shares to Ron. He has got to pay for them by a certain date. If he...
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9y ago from Pitpass.com
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