Exor, an investment vehicle controlled by the Italian family, on Tuesday confirmed it had teamed up with News Corporation, chaired by Rupert Murdoch, with view to making a joint bid for F1.
Exor, which is listed on the Borsa Italiana, is a major shareholder in Fiat Group, the car manufacturer that owns the Ferrari, Maserati and Alfa Romeo luxury car brands.
Exor also owns 60pc of Italian football club Juventus and 69.8pc of property agent Cushman & Wakefield.
In a statement, the company said: "Over the coming weeks and months, Exor and News Corporation will approach potential minority partners and key stakeholders in the sport. There can be no certainty that this will lead to an approach to Formula One's current owners."
Exor is run by John Elkann, the grandson of the late industrialist Gianni Agnelli.
CVC Capital Partners, the owner of Formula One, said: “CVC can confirm that it has recently received an approach from the Exor News Corporation consortium.
“James Murdoch has informed us that the approach is friendly, at a very preliminary stage, and that they acknowledge that Formula 1 is privately owned by CVC and not currently for sale.”
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