Formula One Chief Executive Bernie Ecclestone arrives back in the courtroom after an ajournment, at the regional court in Munich August 5, 2014. REUTERS/Michael Dalder
MUNICH Germany (Reuters) - German bank BayernLB [BAYLB.UL] said on Friday it had rejected a 25 million euro settlement offer from Formula One boss Bernie Ecclestone relating to his involvement in the 2005 sale of its stake in the motor racing business.
State-backed BayernLB claims Ecclestone collected unjustified commissions and undervalued its stake in the motor racing business when private equity fund CVC became Formula One's largest shareholder eight years ago.
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