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Former F1 owners in mass share sell off
Almost all of Formula One's former owners are selling off their shares which track the performance of the sport in a transaction which is expected to close today according to an article in the Guardian by Christian Sylt. When F1's current owner Liberty Media bought the sport's parent company Delta Topco in January for £3.2bn ($4.4bn) it trumpeted the fact that part of the payment to the sellers came in the form of shares listed on America's Nasdaq stock market. They were given to everyone who owned stakes in Delta Topco, from the FIA and Ferrari to Bernie Ecclestone and the company's controlling shareholder CVC. The shares are known by the embarrassing-sounding name of 'FWONK' which...
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7y ago from Pitpass.com
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