F1: Liberty's share purchase facing UK investigation

The planned purchase of Formula 1 by Liberty Media could face an investigation by Britain's Competition and Markets Authority (CMA).

In September, Liberty Media agreed to become F1's biggest shareholder through the purchase of shares from a consortium of sellers led by majority shareholder CVC Capital Partners. The U.S.-based company will acquire 100% of the shares of Delta Topco, the parent company of F1, and has completed an initial acquisition of an 18.7% minority stake.

In announcing the deal, Liberty said its completion was subject to certain conditions including "certain clearances and approvals by antitrust and competition law authorities in various countries."

On Monday, the CMA said it was "considering" whether the deal contravened Britain's anti-competition laws and invited any party concerned about the move to submit information before Nov. 21.

"The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if, so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services," it said in a statement.

The CMA will make a decision on taking the matter further on Jan. 5.

Originally on Autosport.com