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Bank rejects Ecclestone's settlement bid

Friday, August 08 16:12:22

German bank BayernLB said today it had rejected a E25m settlement offer by Bernie Ecclestone relating to the bank's claims the Formula One boss collected commissions and undervalued its stake in the motor racing business.

"BayernLB has rejected Mr Ecclestone's settlement offer," a spokesman for the public-sector lender told Reuters.

This week a German court halted a bribery trial against Bernie Ecclestone in exchange for his paying a $100 million fee. (Reuters)

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