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Billionaire denies he's buying Honda F1


Mexican magnate says he's not in the market to buy F1 team off Honda despite European rumours.

Mexican billionaire, Carlos Slim, who is said to be the world’s second-richest man, denies he’s buying the Honda Formula 1 team.

The outfit is for sale after Honda announced it is leaving F1 because of the world economic downturn.

European reports linked Slim, who owns telecommunications firm Telmex and a racing team, with talks to buy Honda. But Slim refuted the reports in a statement issued yesterday.

“The Telmex Team can confirm that Carlos Slim Helu has not bought the Honda F1 team nor is holding any negotiations to do so,” the statement said. “Therefore all information related to this subject has no basis and is completely false."

Slim's Telmex group, through its subsidiary Embratel, sponsors Bruno Senna, the nephew of the late Ayrton Senna, and Italian reports said Senna would join Jenson Button in a Slim-owned Honda F1 team in 2009.

Honda F1 team boss Ross Brawn says the reports of Slim buying the outfit were “pure speculation.” He says the team has enough money to survive until the first race of the 2009 series, at Melbourne, Australia, on March 29, and is talking to several prospective buyers.

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