Spyker says F1 team sale not complete

(GMM) The Dutch sports car maker Spyker on Monday revealed that the sale of the Silverstone based F1 team to Force India is not yet complete.

The surprising admission was made in the form of a press release, in which it was made clear that Spyker had not yet "fully and definitively" passed the team to the consortium Orange India — headed by Vijay Mallya and the Mol family.

Mallya and Mol have, however, already renamed the newly launched outfit Force India, changed the colors of the car, and are set to debut the team's new identity in Melbourne in 12 days time.

But while announcing massive losses for 2007, Spyker said there are still some "minor differences of opinion" with Force India to clear up.

"A number of issues of relative minor financial importance — according to our expectations — are still outstanding," Spyker confirmed.

"Unfortunately … as per today, (Spyker) has still not reached full and final agreement with Orange India," it added.

In reaction to the news, Spyker shares dived more than 21 per cent.

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