The Competition and Markets Authority said it wants to examine whether the planned £600 million takeover of Formula One by Liberty Media breaches laws on sporting cartels CLIVE MASON/GETTY IMAGESLiberty Media’s takeover of Formula One could be stopped in its tracks after competition authorities launched an inquiry yesterday. The Competition and Markets Authority wants to find out whether the £600 million takeover breaches laws on sporting cartels. Liberty’s buyout, expected to be completed next year, would give the American media conglomerate control of Formula One, as well as broadcasting contracts covering the sport around the world. There are no known objections to the deal signed in September, but if they emerge, a full investigation will be launched in the new year. Motor racing teams have welcomed the takeover, particularly after they were promised a share in the business, and fans appear to want a change of…

Source: The Times November 08, 2016 00:05 UTC