Rinse, trim, and halve the fennel. Remove the stalk and cut into slices. Blanch for 5 minutes in salted water, until al dente. Drain, and divide into jars.
Bring the wine, vinegar, 250 ml (approximately 8 ounces) of water, 2 tablespoons salt, red pepper, fennel seeds, and bay leaves to a boil. Cook until the salt and sugar have dissolved. Pour the hot cooking liquid over the fennel. Seal the jars, and let cool.