Some scattered reports
today, originating with a German website, Focus Online. Supposedly Mercedes Benz is considering its very own entry into F1 starting from 2009. After the spy stuff, it would perhaps be a bit naïve to presume that they hadn't considered such an option, too. And anyway, if they have decided to consolidate their position in F1 with or without McLaren, they need leverage, or a litmus test, to examine Dennis' and Ojjeh's true intentions.
The vehicle of choice would be HWA, the motorsport business that runs Merc's DTM factory teams. There was no concrete comment on HWA's part at this time, though. HWA is the brainchild of the legendary Hans Werner Aufrecht who was so good in making Mercs more sporty that Merc bought AMG from him and made it a company trademark. HWA is part owned by Nasser Bin Khaled Holding (25%, Qatar), A Viennese investment bank and an Austrian investor Toto Wolf (49%). 10% is traded on the Frankfurt stock market and presumably Aufrecht still owns the rest.
The company has been making good profits this year. In 2009, apparently they could make a flying start with a customer chassis, no matter how that issue is settled later on.
HWA's website - link
Formel 1: Autosportspezialist HWA will einsteigen - link, Focus, original source for the story.
Steigt HWA doch in die Formel 1 ein? -link, Motorsport Total, German commentary on the issue.
The Mole: Smellier than a year-old Camembert - a unique angle on the issue by grandprix.com.
Edit: It's an intriguing thought, since HWA's management and engineers know a great many potential F1 drivers from their DTM and F3 Euroseries teams. Also, McLaren and AMG are actually in direct competition for McLaren's attention in the high-end sportscar market. AMG is currently working on a supercar that compares directly with the SLR. Some more info:
F1: AMG and HWA to Run Mercedes B-Team? - link, SpeedTV