Mercedes has ended its bid to buy a minority stake in the Alpine Formula 1 team, believing the team to be overvalued, leaving the fate of the shares uncertain.
Speculation has grown over the last several months over the future direction of Alpine, as Otro Capital looked to sell a 24 per cent stake in the team.
Toto Wolff had agreed in principle to purchase the stake, fuelling speculation that Mercedes would effectively use the Enstone outfit as a B Team to supplement its factory operation.
However, BBC Sport has reported, citing insiders, that Otro were demanding $720m (£536m), valuing the Alpine team at $3bn (£2.2bn),
Mercedes, by comparison, were targeting a figure of $2.2-2.4bn (£1.6-1.8bn), sizeable deficit to the price demanded.
BBC Sport quoted insiders as stating “We understand that discussions have stopped.”
Wolff has yet to respond to the speculation, unavailable for comment when contacted by BBC Sport.
Where next for Alpine?
With Mercedes now out of the picture, the question remains of who will take the share as it remains up for grabs.
Christian Horner was heavily linked as a potential taker, though this has died down in recent months, with no certainty that these talks will be renewed, having ended.
The team has recently announced a title sponsor deal with Gucci, which will see the cars adorned in the fashion giant’s logos and colours from next season.
It poetically acts as the next chapter for the Enstone operation, having operated as Benetton in the 1980s and 1990s, with current Alpine Executive Advisor Flavio Briatore acting as Team Principal.
Renault Group continue to have the controlling stake in Alpine, the team using Mercedes power this season, having shut down its own power unit programme.
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