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F1 : Formula 1 championship cautiously delays Singapore stock market floatation E-mail
Saturday, 26 May 2012 10:07
Plans to imminently float Formula One on the Singapore stock exchange may have stalled.

Bernie Ecclestone, Formula 1'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 Formula 1 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."

F1SA.com

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