F1 owner working with EU after probe into $5b MotoGP deal

Formula One owner Liberty Media's US$3.8 billion (S$5.1 billion) plan to buy motorcycle racing league MotoGP World Championship is set to be hit by an in-depth European Union probe, in the first escalation of a big merger case by new antitrust chief Teresa Ribera.

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The Spaniard's team is concerned the tie-up could hamper competition in broadcasting and streaming markets by drawing two giant motor racing brands under one banner, according to people familiar with the EU probe who spoke on condition of anonymity. Officials are now readying a decision to start a so-called Phase 2 probe by the deadline of Dec 19, they said, adding that the European Commission's step was still in draft form and could still change.

A Liberty Media spokesperson said that the company is continuing to "work constructively" with EU regulators as part of the review and that it hopes they "will understand the dynamic nature of the market".

The Brussels-based commission declined to comment.