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Honda website

DECEMBER 23, 2000

German prosecutors raid EM.TV offices

THE German authorities have visited the EM.TV offices in Munich and have taken away documents and spoken to members of staff. The state prosecution service is investigating possible breaches of share trading laws by Thomas Haffa and other members of the EM.TV management.

Soon after the visit EM.TV announced that the company's head of business affairs Ulrich Goebel had resigned due to differences of opinion over the future strategic direction of the company, which holds 50% of Bernie Ecclestone's Formula One group of companies.

The investigation is one of several which are surrounding the company and causing some embarrassment in F1 circles.

EM.TV is expected to sell its F1 shareholding to another German media firm led by Leo Kirch but that deal is yet to be confirmed.