News Details
Liberty Media increases stake in F1
Liberty Media has bought a further 0.4% stake in F1, increasing its overall holding to 19.1%. The 0.4% stake was acquired on 27 October for $13m and follows September's purchase of the initial 18.7% stake in F1 for $746m in cash. In total, Liberty Media now owns 19.1% of Delta Topco, F1's parent company, which is controlled by CVC which owns 38.1%. Thus far, Liberty Media has not bought any of CVC's shares but once the necessary regulatory and shareholder approval is given control will switch to the American company. According to Forbes, the original $746 million was funded with cash and borrowings including the sale of debentures which are convertible into Time Warner stock. Time Warner...
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