LONDON (Reuters) - U.S. asset management company Waddell & Reed increased its stake in the Formula One motor racing business to 20.9 percent from around 14.4 percent in a $500 million (318.07 million pounds) deal after the motor racing business put flotation plans on hold.
Private equity firm CVC, since 2006 the largest shareholder in Formula One, has now cut its stake to around 35 percent from 63 percent in deals in recent months.
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