Renault confirms Telefonica money

As we reported a month ago, Renault F1 has concluded a deal to run with Telefonica sponsorship. The deal is based around Fernando Alonso, Spain's rising star. The cars will feature branding in Australia. Renault is also very keen to have bigger profile in the key Spanish market.

Telefonica was previously involved with the Minardi team. It is the largest telecommunications company in the Spanish and Portuguese speaking markets and the sixth biggest operator in the world. The company has operations in around 40 countries and has around 100m clients, mainly in South America.

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