Liberty, Discovery eye Formula One stake

|About: Liberty Global, Inc. (LBTYA)|By:, SA News Editor

Liberty Global (LBTYA) and Discovery Communications (DISCA) have made a joint approach to CVC Capital about acquiring a 49% stake in Formula One in a deal that could value the motorsport franchise at over £6.5B, The Daily Telegraph reports.

CVC owns 35% of Formula One, including all the voting rights, but it's not clear where the other 14% could come from. One possibility is the Lehman Brothers estate, which needs to sell its 12.3% holding by the end of June.