STUTTGART (dpa-AFX) - Motor giant Porsche AG (POAHY.PK, POAHF.PK), on Friday, said its negotiations with Red Bull GmbH on the possibility of Porsche's entry into Formula 1 have faltered as both the companies couldn't agree on an 'equal footing' on team and engine partnership.
'The two companies have now jointly come to the conclusion that these talks will no longer be continued,' Porsche said in a statement.
'With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored,' Porsche stated.
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