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Ecclestone selling his shares in Formula 1
In what is the death knell to the Bernie Ecclestone era at the helm of Formula 1, the billionaire who was the main player in the sport for the past four decades, is selling his shares. Ecclestone is set to make a quick $29 million (23 million pounds) from Liberty Media's takeover of Formula One after being deposed as the sport's commercial supremo this week. Liberty completed their $8 billion takeover earlier this week and a subsequent filing to the U.S. Securities and Exchange Commission (SEC) showed 86-year-old Ecclestone was offloading 950,599 shares. The Series C Liberty Formula One common stock shares were trading at around $30.73 on Thursday. Other associates of Ecclestone, including...
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7y ago from GrandPrix247.com
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