Red Bull to sell to ‘Pepsi’?

(GMMf1NET) Dietrich Mateschitz, owner of two formula one teams, has reportedly denied speculation that he might sell Red Bull to soft drink rival PepsiCo.

Austria's 'NEWS' magazine claimed that Mateschitz, a multi billionaire, had held discussions with the New York-based Pepsi company, on the back of speculation that it was keen to capitalize on the small but lucrative market of energy drinks.

Meanwhile, it is reported that 61-year-old Mateschitz has bought a 5 square-mile Fijian private island – called 'Laucala' – for $10m.

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