The UK's Competition and Markets Authority (CMA) is considering whether it should launch an investigation to determine whether or not Liberty Media's takeover of Formula 1 will "result in a substantial lessening of competition" in the UK's goods or services industry.
Liberty Media has already completed an initial stock purchase in Formula One Management (FOM), but plans to complete a majority takeover worth $8 billion pending "clearances and approvals by antitrust and competition law authorities in various countries".
That deal now faces anti-competition scrutiny in the UK – where F1 and the majority of teams are based – with the CMA announcing on Monday that it is considering a formal investigation.
"The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if, so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services."
The CMA has given any parties with concerns until November 21 to register their claims, before the CMA will make a decision on January 5 whether or not to launch a formal investigation into the deal.
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