Liberty, Discovery eye Formula One stake

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.

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    What does Formula One have to do with Discovery's core business? This looks like a mistake that will negate stockholder value.
    4 Feb 2014, 02:52 PM Reply Like
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