LONDON (Reuters) - McLaren damped down a report on Wednesday that Apple Inc had made an approach for the British Formula One team owner and supercar maker. "We can confirm that McLaren is not in discussion with Apple in respect of any potential investment," a McLaren spokesman said. It reported that the automotive group could be valued at between 1 billion pounds ($1.3 billion) and 1.5 billion pounds. (http://on.ft.com/2cUU1ax)Reports have suggested that Apple, which had no immediate response to the Financial Times story, is working on a self-driving car. The McLaren Formula One team is partnered by Honda, who provide the power units.

Source: The Star September 21, 2016 16:20 UTC