The production of thef0 in two photon collisions, with the subsequent decayf0→π+π− has been observed in the CELLO detector at PETRA. Thef0 peak was found to lie on a dipion continuum and to be shifted downwards in mass by ≃50 MeV/c2. The ππ mass spectrum from 0.8 to 1.5 GeV/c2 was well fitted by the model of Mennessier using only a unitarised Born amplitude and helicity 2f0 amplitude. The previously observed mass shift and distortion of thef0 peak are explained by strong interference between the Born andf0 amplitudes. The only free parameter in the fit of the data to the model is the radiative widthΓγγ(f0). It was found that:Γγγ(f0)=2.5±0.1±0.5 keV where the first (second) quoted errors are statistical (systematic).