Motor racing investors BlackRock buy $1.6 bln stake in Formula 1

(Reuters)* Deal places at least $7 billion value on Formula One* Waddell & Reed, BlackRock and Norges Bank by stakes * Formula One set to price offering before end of June * CVC Capital cuts stake to about 40 pct from 63.4 pct By Saeed Azhar and Elzio Barreto SINGAPORE HONG KONG, May 22 (Reuters) -...

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