Okkaayy!! I did it! Psus, this is confirming what you already said:
The sign E23 (the recumbent lion) in classical egyptian was read as “rw”, but in neo-egyptian this sign was simply expressing the sound “r”, this caused by a linguistic phenomenon called “lettura sillabica” ( should be “reading by syllable”). The egyptian language didn’t know the sound “l” , and when the scriba had to use this sound to traslitterate foreign words, they used the group N35 with Z2 beneath, or D21 and Z1 under. Example: U33, N35+Z2, D21+Z1, D40( this is the det.), will be traslitterated as “Tnr”(=strength, force), but it is read as “Tl”. The letter “L” can also be written as D21+Z1; ex: D58+D36, D21+Z1 will be trasliterrated as “Br”, but it’s read “Bl”, which Baal, the Canaan god. It is easy to see that the sign “r” could be used to render the letter “l”. Since in neo-Egyptian E23 had value of “r”, in later times it has been used for the “l”. This is the explanation on how the “L” of Ptolemaios (greek) or Ptolomys (Egyptian) was rendered with the sign E23. The sign V4 was used in later times for the “o”, probably because this sign (“w3” in middle Egyptian, sometimes simply as “w” in neo-Egyptian) was the most similar to the sound “o” of the Ptolemys’ period. We have to remember that Ptolemys were speaking and writing greek, a language that was using the vowels in writings, while the Egyptian was not. In order to render the sound of the vowels inside the names in hieroglyph writings, Ptolemys had to try their best, and they were doing right!
(Antef, or Franco Brussino, www.egittologia.net
I hope you will appreciate!