CVC's F1 Stock Flotation On Hold Amid Ecclestone Legal Troubles
F1 commercial rights holder CVC today said that plans for a stock flotation of the racing series "remain stalled" as F1 CEO Bernie Ecclestone "faces legal action that could break his long grip on the sport." CVC added that a "flotation was still its aim, but ruled out any action in the short term to revive plans for a listing." While leaving court after giving evidence in the Ecclestone case, CVC co-Chair Donald Mackenzie said, "One day we'd like to float the company. We've got no plans to do that in the imminent future" (REUTERS, 11/19).