Oct.12 (GMM) Reports that Vijay Mallya is selling his formula one team Force India will not go away.

When the original reports emerged last week, the Indian billionaire issued two strident denials.

"No question of my getting out of Force India," he said, when the Asian Age newspaper cited sources that said the buyer is Indian conglomerate Sahara, with a deal "on the verge of being finalised".

And in a vehement media statement, Mallya later added: "I was shocked to read a media report that I am selling the Force India team. This is completely untrue and without any basis whatsoever."

But on Wednesday more reports emerged, with CNBC saying the Sahaha deal "will be inked shortly".

"Mallya is likely to address (the) media later on Wednesday", the report added.

And the Press Trust of India added: "The two corporate honchos (Mallya and Sahara's Subrata Roy) will sign an agreement today, which will be followed by an official announcement this evening, according to sources".

Spokespeople for Force India and Sahara declined to comment.

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