Lehman to buy back F1 stake

(GMMf1NET) New York-based bank Lehman Brothers might not be finished with the world of formula one.

While recently selling its 14 per cent stake to now 100 per cent owner 'CVC Capital Partners', Lehman negotiated an 'option' to buy back into the grand prix racing group.

England's 'Independent' newspaper wrote that Lehman 'is set to purchase a stake' in the sport's new CVC-run parent body, Alpha Prema.

''The option is valid for several weeks and Lehman is expected to exercise it shortly,'' the 'paper said, citing sources.

Lehman, along with fellow banks Bayerische Landesbank and JP Morgan, inherited their shares in F1 after the Kirch group went broke in 2002.

But Lehman was the only one to retain a buy-back option.