Formula One may have Ferrari as shareholder
Ferrari, the luxury car group owned by FCA [BIT:FCA], could take up to a 5% stake in Formula One, the company that runs the Formula 1 racing sport, the Italian-language Carlo Festa blog reported.
The report cited market rumours claiming that Formula One owner Liberty Media [LMCA:NASDAQ] is offering stakes of up to 5% to any Formula 1 racing team. The item said that Ferrari is one of the teams to have come forward and is interested in taking a 5% stake.
The item noted that Liberty Media is selling up to a 22% stake of Formula One to a number of Formula 1 racing teams, with each team restricted to a maximum 5% holding. The report said that Liberty is selling the stakes at a 15% discount to the amount it paid to take control of Formula One last year.
The item said that this would mean that Ferrari would pay EUR 200m for the stake.