F1 to delay Singapore floatation

Sat, 26 May 2012, 08:35

May 26 (GMM) Plans to imminently float formula one on the Singapore stock exchange may have stalled.

Bernie Ecclestone, F1’s new chairman Peter Brabeck, and CVC representative Donald Mackenzie, admitted in Monaco on Friday that the high-profile, multi billion dollar listing might be delayed.

“I think we made a step forwards but no decision has been taken,” Brabeck is quoted by Reuters.

Mackenzie said the recent selling of a $1.6 billion F1 stake to three new owners had changed things.

“If anything it has reduced the pressure or the need for an IPO or a next step and that’s why the board looked at the IPO today as one option,” he said.

And the Gulf Times quotes Ecclestone as saying: “The market doesn’t look too bright after that little bit of a problem with Facebook.

“So I think they are going to wait and see.”

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