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German bank rejects £33m Ecclestone settlement offer

Getty Images Enlarge German bank BayernLB has rejected a settlement offer of $33 million (£19 million) from Bernie Ecclestone. Earlier this week a Munich court dropped a bribery case against Ecclestone in exchange for a $100 million (£59 million) payment. BayernLB claims Ecclestone undervalued F1 when it was sold in 2006, with the court case which begun in April centred on accusations he paid German banker Gerhard Gribkowsky $44 million (£26 million) to ensure F1 was sold to a company he favoured. Ecclestone had always denied the charges. "BayernLB has rejected Mr Ecclestone's settlement offer," a spokesman for the bank told Reuters on Friday. The bank's next step remains to...
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