Liberty Media shareholders get crucial F1 vote

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On January 17 2017, Liberty Media shareholders will voice their approval, or disapproval, of the impending deal by the US conglomerate to purchase Formula 1.

Since the takeover was announced last September, Liberty has acquired an 18.7% minority interest in the sport, with the vote early next year hopefully providing a green light for the purchase of a majority stake.

Liberty released a statement yesterday in which the date and the specifics of the vote were announced.

"Holders will be asked to vote on proposals relating to Liberty's issuance of shares of its Series C Liberty Media common stock in connection with the proposed acquisition of Formula 1 and the renaming of the Liberty Media Group and the Liberty Media common stock to the Formula One Group and the Liberty Formula One common stock, respectively, following the proposed acquisition of Formula 1 by Liberty."

While many view the voting process as a mere formality, F1 supremo Bernie Ecclestone remains guarded until the deal is effectively consumed.

"I've never counted their money," Ecclestone told

"I don't know their company, so I have no idea. They paid what they had to pay, they bought 10 percent of the company and they paid.

"I'd be surprised if it didn't happen, but if it doesn't happen, it doesn't happen. CVC will still own their shares, less what they sold."

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