F1 to proceed with float in October - source

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Secondly a source CVC is now eyeing October, when it hopes the European financial crisis and the Gribkowsky corruption affair in Germany will be resolved.

Feb.18 (GMM) Owner CVC looks set to proceed with the floatation of Formula One later this year, according to F1 business journalist Christian Sylt.

Bernie Ecclestone, CEO Formula One Group
Bernie Ecclestone, CEO Formula One Group

Photo by: XPB Images

Late last year, Sylt said CVC had decided to continue to delay the planned Singapore floatation until at least 2014.

But in a new report for the Telegraph, he quotes a 'senior source' as saying CVC is now eyeing October, when it hopes the European financial crisis and the Gribkowsky corruption affair in Germany will be resolved.

"In October this year, we ought to be able to look at the following year and say that most of next year's earnings are under contract, the market is in a very good place and Germany is now clear," said the source.

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About this article
Series F1
Article type Rumor
Tags cvc, ecclestone, f1, gmm, gribkowsky

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