EM.TV May Sell Remaining Stake in F1

EM.TV had its annual general meeting on Wednesday and newly appointed Chief Executive Werner Klatten indicated that EM.TV is considering selling their remaining stake in Formula One holding company SLEC. According to Klatten the sell off of their...

EM.TV had its annual general meeting on Wednesday and newly appointed Chief Executive Werner Klatten indicated that EM.TV is considering selling their remaining stake in Formula One holding company SLEC. According to Klatten the sell off of their remaining shares in SLEC would give them a 'large amount of fresh capital'.

Reports in the Daily Telegraph stated that Mercedes boss Jurgen Hubbert welcomed Klatten's appointment and it is speculated that Mercedes will take up EM.TV's existing shares in SLEC. A meeting between Klatten and Hubbert is expected before the next meeting of the European Manufacturers Association.

-Jordan Grand Prix

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Series Formula 1
Teams Mercedes , Jordan