Aston Martin Lagonda* (AML) shares leapt 20 per cent after several news articles reported interest from a billionaire Formula 1 team owner in buying a major stake in the luxury car manufacturer.
Lawrence Stroll, owner of F1 team Racing Point, is reported to be weighing up an approach for Aston Martin. Mr Stroll, whose son Lance is a race driver for the team, reportedly views the manufacturer’s low shadre price and lower-than-envisaged sales as an opportunity to rebuild the company’s brand, according to the Autocar article. Racefans.net, which jointly reported on Mr Stroll’s interest with Autocar, speculated that his racing team could be rebranded as Aston Martin.
Aston Martin's shares listed at £19 in October 2018, and have traded below £4 this year. But they have gathered momentum as Aston Martin launched its first SUV, the DBX, in November this year.
A spokesperson for Aston Martin declined to comment. Racing Point also declined to comment.
