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F1 to delay Singapore floatation

Plans to imminently float formula one on the Singapore stock exchange may have stalled.

Bernie-Ecclestone-1Bernie Ecclestone, F1’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 F1 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.”