Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Nigeria mosque blast: Scores die in attack during prayers in Kano

Read more

THE WORLD THIS WEEK

Sarko Bites Back: Ex-President Determined to Reclaim UMP Leadership

Read more

THE WORLD THIS WEEK

No Deal: Iran Nuclear Talks End Without Agreement

Read more

FASHION

"Cloakroom Vestiaire Obligatoire" a tender and hypnotic performance by Tilda Swinton and Olivier Saillard.

Read more

FRANCE IN FOCUS

Learning the language of love

Read more

AFRICA NEWS

Burkina Faso: Calls for probe into 1998 murder of journalist

Read more

FOCUS

Is this the end of Hong Kong's 'Umbrella Movement'?

Read more

#THE 51%

France marks 40th anniversary of abortion laws

Read more

#TECH 24

Virtual insanity? Artist to 'experience life' through Oculus Rift headset for 28 days

Read more

Various offers but nothing serious, says Honda

Latest update : 2009-02-23

Japanese car maker Honda, struggling as a result of the economic crisis, will probably have trouble selling off its F1 team. Chief executive Takeo Fukui said they received "various offers" but no "serious buyer yet", in spite of Virgin's interest.

REUTERS - Honda Motor Co said on Monday it currently sees no serious buyer for its Formula One team, a sign that Japan's second-largest automaker may have trouble selling off the team.

 

"There are various offers for the team but we have not seen any serious buyer yet," Honda chief executive Takeo Fukui told a news conference.

 

"We find the sale process difficult."

 

Honda put the team up for sale in December after announcing it was withdrawing from Formula One as a constructor and engine supplier as the global economic crisis sends car sales sliding.

 

The Japanese automaker has struggled to raise sponsorship for its under-performing team, spending an estimated $300 million of its own money but finishing ninth overall last season.

 

Honda Formula One team bosses turned down an offer from Bernie Ecclestone to help with a planned management buy-out, the sport's commercial supremo was quoted as saying on Sunday.

 

British entrepreneur Richard Branson also told BBC radio on Saturday that he loved Formula One and could step in to rescue the Honda team if certain conditions were met.

 

Honda said on Monday that CEO Takeo Fukui, a fan of motor racing, was stepping down.
 

Date created : 2009-02-23

COMMENT(S)