BayernLB says rejects Formula One boss Ecclestone's settlement offer

Reuters News
Posted: Aug 08, 2014 11:10 AM

BERLIN (Reuters) - German bank BayernLB [BAYLB.UL] said on Friday it had rejected a 25 million euro 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.

(Reporting by Andreas Kroener; writing by Michelle Martin; Editing by Arno Schuetze)