Oct.13 (GMM) Group Lotus owner Proton has denied the British sports car maker is being sold to formula one team owner Genii.

Last week, Lotus boss Dany Bahar failed to quell speculation that Genii, the Gerard Lopez-led owner of the Enstone based Renault team, is poised to take over its title sponsor Lotus.

"I can only say this," said Bahar, "when we made the announcement about our involvement in Lotus Renault GP we made it clear that this was the start of a close relationship and this journey continues."

But Group Lotus owner Proton, the Malaysian carmaker, this week denied the Genii rumours with a media statement.

"Proton hereby states that the alleged moves between Group Lotus and Genii Capital are untrue and that the reports are highly speculative in nature," it read.

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