Tuesday 20 October 2015

Chinese whispers

So, I have done some digging into Kleinman's tale from last week about China Media Capital backing  Stephen Ross's takeover of Formula One. If you missed that story, here it is:

http://news.sky.com/story/1570686/chinese-eye-biggest-f1-stake-in-8-5bn-bid

Well, my "experts" on China believe China Media Capital (who Mark revealed as one of the new bidders for Formula One) is likely to be used as a platform/vehicle by one of the larger China-based companies/billionaires, such as Dalian Wanda, which is controlled by the billionaire businessman Wang Jianlin.

Dalian Wanda, a commercial property developer, has been on an acquisition spree recently, gobbling up stakes in all sorts of leisure/sports assets, such as Atletico Madrid, the Ironman competition and Infront Sports & Media, the Swiss sports marketing company.

I guess, then, it makes sense that Dalian Wanda could be interested in Formula One although I wouldn't discount the possibility of another billionaire/group, such as Fosun, being involved...

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