The Times today reports a few points, primarily that Virgin is a serious bidder and has signed a "terms of agreement" so that they can look at BD's books. Apparently the BA bid is about £100m and Virgin is offering £50m - but with no chance of it being challenged through the courts or by regulators. Those figures exclude restructuring/pension costs. Lufthansa didn't comment on the story.
So, you never know, perhaps those people buying BD miles as cheap versions of Avios will wish to rethink their strategy
