Liberty Media's F1 purchase faces UK anti-competition investigation

The planned purchase of Formula One by Liberty Media could face an investigation by Britain's Competition and Markets Authority (CMA) to ensure it does not breach anti-competition laws.

On Monday the CMA announced that it was "considering" whether the deal contravened Britain's anti-competition laws and has requested for any interested parties concerned about the move to submit information before November 21.

A statement of the government department's website said: "The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if, so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services."

In September, Liberty Media confirmed that it had agreed to acquire F1 from a consortium led by CVS Capital Partners. The deal, worth $8 billion, would see Liberty take control of all of F1 holding company's Delta Topco's shares in the sport.

The CMA said that the deadline for a decision on whether or not the Liberty Media would face a more formal investigation would be made on January 5, 2017.