Apple Inc. (AAPL) is considering an investment or purchase of McLaren Technology Group, a U.K. maker of luxury sports cars and an owner of a Formula One racing team, the Financial Times reported Wednesday on its website, citing three people briefed on negotiations between the companies.

The auto concern is valued at between GBP1 billion-GBP1.5 billion, and is jointly owned by Ron Dennis, McLaren's chairman, and Mumtalakat, the sovereign wealth fund of Bahrain, the FT reported.

FT website: www.ft.com

Write to nymonitoring@dowjones.com

(END) Dow Jones Newswires

September 21, 2016 11:19 ET (15:19 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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