Wolff sells more of Williams stake

Feb.25 (GMM) Toto Wolff has offloaded more of his stake in the Williams team.

Ever since the Austrian bought into Mercedes early in 2013 and began working as its F1 and motor racing chief, his more than 15 per cent stake in Williams has been quietly on the market.

In June of last year, it emerged that 5pc of Wolff's stake was bought by US private healthcare businessman Brad Hollinger.

Then in September, it was reported that Hollinger in fact has an additional 2pc option on the Grove based team.

Now, Reuters is reporting on Wednesday that Hollinger has increased his stake to 10 per cent.

At a media briefing, Wolff confirmed that the deal leaves him "just short" of a 5 per cent stake.

"I have no plans to change it," he added.

Williams' major shareholder is Sir Frank Williams with 52 per cent, followed by co-founder Patrick Head and now Hollinger each with 10pc, while 20pc is listed on the Frankfurt stock exchange and 3pc in an employee trust, Reuters said.