01:36 PM EDT, 03/27/2024 (MT Newswires) -- (Updates with additional details.)

Liberty Global ( LBTYA ) is in exclusive talks to acquire Dorna Sports, which owns the MotoGP racing series, for more than 4 billion euros ($4.3 billion), the Financial Times reported, citing people familiar with the matter.

The Formula One owner is set to agree on Dorna acquisition after seeing off a rival bid from TKO Group ( TKO ) , the report said.

Bridgepoint and the Canada Pension Plan Investment Board are the major shareholders in Dorna Sports.

Bridgepoint declined to comment. Liberty Global ( LBTYA ), Dorna Sports, TKO, and the CPPIB did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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