LONDON (Reuters) - Formula One cars will roar around Singapore's streets this weekend, but the prospect of the motor racing business floating on the stock market there this year has receded following stake sales by its main private equity backer.
The owners of Formula One had been preparing for a $3 billion initial public offering (IPO) in June but decided to hold off as global markets tumbled and investor mood soured after Facebook's plunge in value following its flotation.
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