Petronas to do deal with BMW

Malaysia's state-owned oil company, Petroliam Nasional Bhd, is considering transferring its sponsorship from Sauber to BMW, which has taken over the Swiss Formula One team. "We are in discussions with BMW," Petronas president and chief executive Hassan Marican told reporters. "We'll announce when the time is right. It's still very early days." Petronas has sponsored Sauber since 1999, when Malaysia hosted its first grand prix. BMW announced last week it was buying a majority stake in Sauber, which entered Formula One in 1993. Reuters