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发布时间：2006-07-08 20:18     点击：

    Why? Because the other 50% stake in SLEC, owned by EM. TV, a debt- ridden German media company, is up for sale. EM. TV badly needs to sell this stake in the near future to keep its bankers at bay. The uncertainty created by the dispute between Mr. Ecclestone and Mr. Mosley might depress the value of EM. TV's holding. Could that work to Mr. Ecclestone's advantage? Quite possibly. The lower the value of EM. TV's stake, the higher the relative value of an option Mr. Ecclestone holds to sell a further 25% of SLEC to EM. TV for around $1 billion--and the better the deal Mr. Ecclestone might be able to extract for surrendering the option. Whoever buys EM. TV's stake in SLEC will have to negotiate with Mr. Ecclestone over this instrument. The Economist understands that Mr. Ecclestone has the right to veto a plan proposed last December by Kirch, a privately owned German media group, to buy half of EM. TV's holding for $550m.

    In the coming weeks, Mr. Ecclestone will doubtless be deploying his formidable negotiating skills to best advantage. It would be rash to bet against his securing a good deal out of EM. TV's difficulties. His dispute with the FIA may then be easily resolved. As usual, he holds all the cards.

36. FIA would give its partner the right to stage the racing till

A.Mr. Ecclestone gave all the money.

B.The contract time is reached.

C.The 100th year after 2010.

D.Mr. Ecclestone gave it 60m$.

37. The word “extortion”(last line, para 2 ) means

A.abjection

B.negotiation

C.cheating

D.racketeering

38. Which statement is probably true?

A.Mr. Ecclestone just wanted to get more benefits through the EM.TV sale.

B.Mr. Ecclestone wanted to give up the benefits from the contract.

C.The timing of the dispute is very improper.

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