DECEMBER 22, 2000

EM.TV to be investigated for insider trading

THE German Federal Securities Trading Supervisory Authority has recommended that there be a formal investigation into the share movements of EM.TV in the last few weeks amid suggestions that there may have been insider trading. The news comes as another blow for EM.TV boss Thomas Haffa and is a further embarrassment to the Formula One group of companies which is half-owned (for the moment at least) by EM.TV. The company is also facing a separate investigation being carried out by the state prosecution office in Munich and at last six law suits from investors who have taken serious losses in recent weeks.