John Malone: the mystery method behind a media empire at The Telegraph (link)
Liberty Global will fold Cable & Wireless’ equity into a special stock class, LiLac, created to give direct exposure to Latin America for those investors who want it. Malone, who already owns 13pc of Cable & Wireless, will be paid in LiLac stock, while other investors in the British company will get Liberty Global shares.
Liberty Media is buying the Formula One and will be renamed into Formula One Group (see NAV on page 22) (link)
About Annual Letters
The Best Annual Letters – Article by Jason Zweig (link)
We read tons of hedge fund letters so you didn’t have to – here’s what they said about Brexit (link)