Singapore, the southeast Asian city-state and the scene of F1’s annual street night race, could be at the centre of the sport’s plans for the future. Sky News reports that Temasek Holdings, one of Singapore’s principal sovereign wealth funds, has been approached by F1’s majority owner CVC with a proposal to buy into the sport. It is also rumoured that F1 could be floated on the Singapore stock exchange.
F1 chief executive Bernie Ecclestone admitted last November that, “It would be better (for CVC) to float the company in Singapore than sell it”.
The Singapore Exchange (SGX) would not comment.
“It is not our practice to publicly comment on our dealings with individual entities,” a spokeswoman told the AFP news agency.
Source:GMM
