Mercedes has officially withdrawn from talks to acquire a minority stake in the Formula 1 team Alpine. This decision comes amid concerns regarding the valuation set by Otro Capital, the current owner of the stake.
The valuation was considered too high by Mercedes, leading to the conclusion that the investment would not be financially viable.
Alpine, as a rival team in the competitive landscape of Formula 1, remains unaffected by this development, while Mercedes continues to evaluate its strategic options.