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Formula One sale to Liberty Media to go ahead next week - auto motor und sport

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Red Bull Formula One driver Mark Webber of Australia drives in the pitlane during the third practice session of the South Korean F1 Grand Prix at the Korea International Circuit in Yeongam October 13, 2012. REUTERS/Lee Jae-Won/Files
Red Bull Formula One driver Mark Webber of Australia drives in the pitlane during the third practice session of the South Korean F1 Grand Prix at the Korea International Circuit in Yeongam October 13, 2012. REUTERS/Lee Jae-Won/Files

FRANKFURT (Reuters) - A sale of Formula One to Liberty Media is to go ahead next week, German trade magazine auto motor und sport reported on Saturday, citing the sport's commercial supremo Bernie Ecclestone.

The magazine said Liberty Media would transfer the first tranche of payment in the $8.5 billion deal on Tuesday.

Formula One's biggest shareholders are private equity firm CVC Capital Partners with a 35.5 percent stake and U.S. fund manager Waddell & Reed with 20.9 percent. Ecclestone holds 5.3 percent of Formula one and his Bambino Trust has another 8.5 percent.

CVC declined to comment on the auto motor und sport report.

(Reporting by Maria Sheahan; Editing by Jon Boyle)


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