Bernie Ecclestone's mother-in-law has been safely rescued from her kidnappers in Brazil without any ransom being paid, according to police in Sao Paulo.

Last week, Aparecida Schunck, the mother of Ecclestone's wife Fabiana Flosi, was abducted from her home and a ?28million payment was demanded for her safe return.

Police in Sao Paulo have confirmed the 67-year-old was rescued unharmed during a police operation with two suspects arrested and none of the fee being paid.

Schunck was freed from a farmhouse on the outskirts of Sao Paulo after investigators tracked phone calls between the kidnappers and her family.

Ecclestone had offered to hire a private security company to help the investigation and had planned to fly out to Brazil but was persuaded not to by police as they feared it would hamper their progress. The 85-year-old remained in Hockenheim for the F1 German Grand Prix, which was won by Lewis Hamilton.

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The F1 chief married Flosi in 2012 three years after the pair met at the Brazilian Grand Prix and the couple currently live together in the UK.

It was the second high-profile kidnapping case Ecclestone has been involved in inside four years after his daughter Tamara was threatened by Martin Peckham for the price of ?200,000, but he was later found guilty and sentenced to five years in jail.