EU statement on FIA settlement proposal.

The European Commission has reacted to FIA president Max Mosley peace offering by issuing the following statement:

''By letter of 2 May 2000, Mr [Mario] Monti [EU Competitions Commissioner] responded to Mr Mosley. He indicated that, upon a first reading, Mr Mosley's proposals appear to be innovative and constructive, and that his services would be happy to discuss the settlement proposals in more detail.

However, in view of the on-going preparations for the oral hearing in these cases, which the Commission, at the request of the parties concerned, intended to hold on 10, 11 and 12 May, Mr Monti informed Mr Mosley that the discussion could only begin after those dates.

Following that letter, the three parties to the case - the FIA, Formula One Administrations Ltd (FOA) and international Sportsworld Communicators (ISC) - have requested that the Commission postpone the oral hearing, which the Commission has agreed to do. The Commissioner instructed his services to begin the settlement discussion with the FIA immediately.''

The contents of the FIA proposals remain unknown, and the governing body has refused to make any further comment on the matter.