Sep 07

Wolff begins to sell Williams stake

Wolff “has confirmed that the sale process has begun”

2013-02-04 - Mercedes AMG Petronas F1 Team - F1 W04 - Toto Wolff 02Toto Wolff on Saturday revealed he has begun to sell his shares in the Williams team.

Ever since the Austrian bought into Mercedes and became the German team’s executive director, he has said he will move to avoid the conflict of interest and find a safe pair of hands to take control of his 15 per cent Williams share.

Germany’s Auto Motor und Sport on Saturday reported that Wolff has found a buyer from Russia.

The report said Wolff “has confirmed that the sale process has begun”, adding that his Williams stake will initially shrink from 15 to 5 per cent.

Auto Motor und Sport also reports that team founder and boss Sir Frank Williams, in the wake of the death of his wife, is now living at the team’s Grove factory.

“Some offices have been converted into an apartment,” read the report.

source: GMM