Mercedes withdraws from Alpine F1 team bidding process

Mercedes has withdrawn from the bidding process to acquire a 24% stake in the Alpine Formula 1 team, currently owned by American investment group Otro Capital. Otro, which bought the stake for around $230 million in 2023, is reportedly seeking approximately $720 million — valuing the team at around $3 billion — a price Mercedes deemed too high. Mercedes' exit from discussions boosts the chances of former Red Bull team principal Christian Horner, who is also attempting to purchase the stake.