JULY 18, 2001

The Kirch-F1 deal is cleared by British authorities

BRITAIN's Secretary of State for Trade and Industry has decided not to challenge the deal by which EM.TV & Merchandising AG, Kirch Beteiligungs GmbH & Co KG and Speed Investments Limited will acquire a further 25% of SLEC Holdings Ltd., the company which holds the commercial rights for Formula 1 racing.

There had been worries that the deal would be challenged by competition authorities because Kirch owns a percentage of EM.TV.

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