War of the Lotuses begins

KUALA LUMPUR: Proton subsidiary Group Lotus will buy a major equity stake in the Renault F1 team, which will be renamed Lotus Renault GP team from the start of the 2011 F1 season, creating further uncertainty over the use of the famous name.

A statement from the renowned UK sports racing outfit Wednesday, announcing the acquisition from Luxembourg-based investment group Genii Capital, did not mention the price tag and equity acquired.