F1 Stock market plans 'not for 2 years'

(29-Sep-98) - Bernie Ecclestone will have to wait until at least 2001
before Formula 1 floats on the stock exchange, it was revealed on Monday.
The company, Formula 1 Holdings, failed in its previous attempt because, it
is claimed, finaciers did not know enough about the business.

"The company needs the opportunity to specifically build investor
awareness. I think the earlier attempt at an IPO suffered from the City not
understanding the company sufficiently," claimed Stephen Mullens, a
spokesman for the company.

Ecclestone, the boss of the F1 Constructor's Association, and vice
president of the sport's governing body FIA, has been investigated by The
European Commission regarding fair competition over his exclusive
broadcasting rights for all international motor sport. This held back the
original flotation which was planned for the summer of last year.

Mullens, however, denied that the problem lay with the European Union, and
that once the company had a secure investor base the plans were free to go
ahead. "It has nothing to do with the EU. We have always co-operated
with the EU and have a very good record of working with them. I don't see
any problems with the EU."

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