(GMM) Approval of F1's sale to 'CVC' has been delayed, the European Commission - the European Union's governing body - has revealed.
The 'AFX' news agency reported that a decision has been put off until March 21, apparently due to the EC's 'competition concerns', but confirmation of the reasons were not specified.
Bernie Ecclestone and a German bank announced that they would sell their control of formula one last November, but official confirmation pended both EU and FIA approval.
Doubt over the legality of the sale also arose because two other shareholders - American banks - were reportedly not given first 'right of refusal' to buy the sport.
Written: Fri, 03 Mar 2006 11:41:20
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