SEPANG, Malaysia (AP) — Marussia confirmed its held merger talks with Formula One rival Caterham in the latest sign of the financial struggles faced by the smaller teams on the grid.

"Talks took place" but were not ongoing, Graeme Lowdon, Marussia president and sporting director, said on Friday.

Caterham also confirmed the Christmas 2012 discussion, but spokesman Tom Webb said no deal was reached because "it was soon clear that a mutually beneficial solution could not be achieved," adding it had less to gain from the move, since it has several blue chip sponsors.

Russian-owned Marussia won no points in 2012 and continues to endure financial difficulties. It made headlines in January when Timo Glock left in a cost-cutting move. He was replaced by Brazilian driver Luiz Razia, but when he couldn't generate sponsorship he was replaced this month by Jules Bianchi of France.