F1 supremo Bernie Ecclestone wins High Court case against German media company

Formula 1 supremo Bernie Ecclestone has won a High Court battle against German media company Constantin Medien.

The company launched a lawsuit against Ecclestone for a figure of £84m as they believed that he undervalued the F1 shares that they sold back in 2009.

It was alleged that Ecclestone undervalued the shares so he could sell them to private equity firm CVC, which employs the businessman as chief executive.

Ecclestone has been accused of making a controversial payment to a now-jailed former banker Gerhard Gribkowsky, which has led to a criminal case in Germany regarding alleged bribery.

According to The AP journalist Rob Harris, the judge stated in his summary in court that Ecclestone paid a "bribe" to the German banker, but has ruled that he did not intend for the F1 shares to be undersold.

The criminal case is due to get underway in April.