3GScottishUser
24th July 2005, 07:08 PM
From BBC News (24/07/2005):
Hutchison, which owns the UK's 3 mobile network, is reported to be preparing to buy Formula One for about $1bn (£575m).
Bernie Ecclestone, Formula One tycoon, confirmed on Sunday that he had been approached by the Hong Kong firm.
He told the Press Association: "One guy came to see me and I put him in touch with the people that own the shares - the (three) banks."
Hutchison could buy the banks' 75% stake in holding company Slec without his say-so, but it wants his support.
Hutchison's media unit, Tom Group, is reported to have met the three banks that own 75% of Slec, the ultimate holding company for the sport.
Full Article (http://news.bbc.co.uk/1/hi/business/4711853.stm)
Hutchison, which owns the UK's 3 mobile network, is reported to be preparing to buy Formula One for about $1bn (£575m).
Bernie Ecclestone, Formula One tycoon, confirmed on Sunday that he had been approached by the Hong Kong firm.
He told the Press Association: "One guy came to see me and I put him in touch with the people that own the shares - the (three) banks."
Hutchison could buy the banks' 75% stake in holding company Slec without his say-so, but it wants his support.
Hutchison's media unit, Tom Group, is reported to have met the three banks that own 75% of Slec, the ultimate holding company for the sport.
Full Article (http://news.bbc.co.uk/1/hi/business/4711853.stm)