Mercedes withdraws from talks over Alpine minority stake

Mercedes is no longer in talks to purchase the 24 percent stake in Alpine’s Formula 1 team, sources with knowledge of the negotiations confirmed to The Athletic.

Mercedes withdraws from talks over Alpine minority stake. Mercedes is no longer in talks to purchase the 24 percent stake in Alpine’s Formula 1 team, sources with knowledge of the negotiations confirmed to The Athletic. As first reported by BBC Sport on Friday and sources later confirmed to The Athletic, Mercedes’ withdrawal stemmed from feeling the stakes were overpriced: Otro Capital was asking for $720m (£536m), which would put Alpine’s valuation at $3bn (£2.2bn). Mercedes has been one of the groups circling this potential investment opportunity. During the Chinese Grand Prix weekend, Flavio Briatore, the de facto team boss at Alpine, confirmed talks with Mercedes were occurring and that there were “three or four potential buyers” at that time. It’s been known that one of the other parties that have shown interest include former Red Bu...