A new precise measurement of |V_{cb}| and of the branching ratio BR(\bar{B^0} -> D^{*+} \ell^- \bar{\nu_\ell}) has been performed using a sample of about 5000 semileptonic decays \bar{B^0} -> D^{*+} \ell^- \bar{\nu_\ell}, selected by the DELPHI detector at LEP I by tagging the soft pion from D^{*+} -> D^0 \pi^+. The results are: V_{cb}=(39.0 +/- 1.5 (stat.) ^{+2.5}_{-2.6} (syst. exp.) +/- 1.3 (syst. th.)) x 10^{-3} BR(\bar{B^0} -> D^{*+} \ell^- \bar{\nu_\ell})=(4.70 +/- 0.13 (stat.) ^{+0.36}_{-0.31} (syst. exp.))% The analytic dependences of the differential cross-section and of the Isgur Wise form factor as functions of the variable w = v_{B^0}.v_{D^*} have also been obtained by unfolding the experimental resolution.
The formfactors are evaluated at zero recoil of D meson. VCB is the V-CKM (Cabibbo-Kobayashi-Maskawa) mixing matrix element. The value of FORMFACTOR(1) = 0.91 +- 0.03.
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