F1’s owners to anger business world

Mon, 1 January 2007, 08:43

F1’s majority owner, CVC Capital Partners, could be about to embark on a round of controversial “hostile takeover bids”, according to reports.

The London based broadsheet Daily Telegraph claims that the private equity house, which bought its shares in the world of grand prix racing from Bernie Ecclestone and banks, could anger publicly quoted companies by trying to take them over without the support of their management.

CVC has controversially “changed the terms of agreements with its investors”, the newspaper wrote.

The Telegraph added: “(CVC’s) decision … is highly unusual. CVC declined to comment.”


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