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Lotus F1 sells shares to Yota Devices

Russian telecoms company Yota Devices has completed its acquisition of a 10% stake in the Lotus F1 team from its majority shareholder, the private equity firm Genii.Yota manufactures the world's first always-on smartphone meaning that the screen does not black out when it is switched off. Instead it reverts to a low light level like that found in e-book readers. The device is named YotaPhone and the brand has become a partner of Lotus F1 as well as its owner taking a stake in the team.It is the second acquisition in the team in the past 12 months as in May last year Genii's founder Gerard Lopez revealed to Pitpass that property magnate Andrew Ruhan 'has purchased, if I am not mistaken, 2%...
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3y ago from Pitpass.com 0
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