Confirmed: Sir Michael Bishop sells bmi to Lufthansa !!!
#1
Original Poster
Join Date: Jun 2006
Posts: 5,877
Confirmed: Sir Michael Bishop sells bmi to Lufthansa !!!
Guten Morgan my friends !!!
29.10.2008 09:11
Lufthansa spricht mit Bishop über künftige Struktur bei bmi
FRANKFURT (Dow Jones)--Die Deutsche Lufthansa AG, Frankfurt, spricht derzeit mit der britischen Airline British Midland plc (bmi) und ihrem Hauptaktionär Michael Bishop über die künftige Struktur der Airline. Michael Bishop habe am 10. Oktober 2008 eine Option ausgeübt, die Lufthansa dazu verpflichte, 50% plus einer Aktie an bmi zu erwerben, teilte Lufthansa am Mittwoch mit. Diese Option sei Teil eines Shareholder Agreement.
Lufthansa geht davon aus, dass diese Option nicht vor dem 12. Januar 2009 wirksam werde, hieß es weiter.
Webseite: http://www.lufthansa-financials.com
-Von Kirsten Bienk, Dow Jones Newswires, +49 (0)40 3574 3116, [email protected] DJG/kib/nas
(END) Dow Jones Newswires
http://www.faz.net/d/invest/meldung.aspx?id=87819047
29.10.2008 09:11
Lufthansa spricht mit Bishop über künftige Struktur bei bmi
FRANKFURT (Dow Jones)--Die Deutsche Lufthansa AG, Frankfurt, spricht derzeit mit der britischen Airline British Midland plc (bmi) und ihrem Hauptaktionär Michael Bishop über die künftige Struktur der Airline. Michael Bishop habe am 10. Oktober 2008 eine Option ausgeübt, die Lufthansa dazu verpflichte, 50% plus einer Aktie an bmi zu erwerben, teilte Lufthansa am Mittwoch mit. Diese Option sei Teil eines Shareholder Agreement.
Lufthansa geht davon aus, dass diese Option nicht vor dem 12. Januar 2009 wirksam werde, hieß es weiter.
Webseite: http://www.lufthansa-financials.com
-Von Kirsten Bienk, Dow Jones Newswires, +49 (0)40 3574 3116, [email protected] DJG/kib/nas
(END) Dow Jones Newswires
http://www.faz.net/d/invest/meldung.aspx?id=87819047
#4
FlyerTalk Evangelist
Join Date: Jul 2005
Location: Seat 2A
Programs: AA EXP LT GLD 1MM, BA GLD, NH/UA*G, Hyatt Dia, Marr Tit LT PLT, IHG Spire,HH Dia, MGM NOIR,Hertz PC
Posts: 10,571
That doesnt automatically say that LH will actually buy or am I wrong !?
Bishop put the option that LH has to purchase 50% plus a single share. This option is part of the shareholder agreement. LH doesnt expect it to become valid before JAN12 2009.
So if LH doesnt purchase these shares they are out ?
Cant really say anything about this topic as I have not the slightest clue about investment etc !
Bishop put the option that LH has to purchase 50% plus a single share. This option is part of the shareholder agreement. LH doesnt expect it to become valid before JAN12 2009.
So if LH doesnt purchase these shares they are out ?
Cant really say anything about this topic as I have not the slightest clue about investment etc !
#6
Original Poster
Join Date: Jun 2006
Posts: 5,877
That doesnt automatically say that LH will actually buy or am I wrong !?
Bishop put the option that LH has to purchase 50% plus a single share. This option is part of the shareholder agreement. LH doesnt expect it to become valid before JAN12 2009.
So if LH doesnt purchase these shares they are out ?
Cant really say anything about this topic as I have not the slightest clue about investment etc !
Bishop put the option that LH has to purchase 50% plus a single share. This option is part of the shareholder agreement. LH doesnt expect it to become valid before JAN12 2009.
So if LH doesnt purchase these shares they are out ?
Cant really say anything about this topic as I have not the slightest clue about investment etc !
#7
FlyerTalk Evangelist
Join Date: Feb 2000
Location: London, UK and Southern France
Posts: 18,362
#8
Join Date: Nov 2007
Location: SW London
Programs: BAEC Silver; Hilton Diamond;a miscellany of other hotel non-statuses
Posts: 3,607
Windows Live Translator does (almost) :
" 29.10.2008 09:11
Lufthansa speaks with Bishop on future structure BMI
Frankfurt (Dow Jones) -- big Deutsche Lufthansa AG, Frankfurt, speaks currently with the British airline British Midland plc (BMI) and your main shareholder Michael Bishop on the future structure of the airline. Michael Bishop have 10. October 2008 An option exercised Lufthansa obligation, 50% plus a share to BMI to acquire, Lufthansa on Wednesday. This option is part of a shareholder agreement.
Lufthansa assumes that this option is not before 12. January 2009 will take effect, next.
Web page:. Lufthansa financials.
-Von Kirsten Bienk, Dow Jones Newswires, +49 (0)40 3574 3116, [email protected] DJG/kib/nas
(END) Dow Jones Newswires
October 29, 2008 04:11 ET (08:11 GMT)
© 2008 Dow Jones & Company, Inc.
"
" 29.10.2008 09:11
Lufthansa speaks with Bishop on future structure BMI
Frankfurt (Dow Jones) -- big Deutsche Lufthansa AG, Frankfurt, speaks currently with the British airline British Midland plc (BMI) and your main shareholder Michael Bishop on the future structure of the airline. Michael Bishop have 10. October 2008 An option exercised Lufthansa obligation, 50% plus a share to BMI to acquire, Lufthansa on Wednesday. This option is part of a shareholder agreement.
Lufthansa assumes that this option is not before 12. January 2009 will take effect, next.
Web page:. Lufthansa financials.
-Von Kirsten Bienk, Dow Jones Newswires, +49 (0)40 3574 3116, [email protected] DJG/kib/nas
(END) Dow Jones Newswires
October 29, 2008 04:11 ET (08:11 GMT)
© 2008 Dow Jones & Company, Inc.
"
#9
FlyerTalk Evangelist
Join Date: Feb 2004
Location: London
Programs: BA, VS, HH, IHG, MB, MR
Posts: 26,871
Lufthansa: Talks On Future BMI Structure,Put Option Exercised
29 October 2008
Dow Jones International News
(c) 2008 Dow Jones & Company, Inc.
FRANKFURT (Dow Jones)--German flag carrier Deutsche Lufthansa AG (LHA.XE) Wednesday said it is in talks with Michael Bishop, founder of British Midland Airways Ltd., or BMI, over the future structure of the U.K. airline.
In its third-quarter report, Lufthansa said Bishop has exercised a put option, which requires Lufthansa to purchase his 50% plus one share stake in BMI.
The completion of the BMI put option exercise isn't expected to occur before Jan. 12, Lufthansa said.
Lufthansa already owns a 30% stake in BMI. The remaining 20% are owned by SAS AB (SAS.SK).
BMI is a small airline by global standards but has a valuable asset. It controls 11% of the takeoff and landing slots at London's popular Heathrow Airport, the world's busiest international airport, placing it second after British Airways PLC (BAY.LN), which controls more than 40% of the slots this summer. Lufthansa and its subsidiary Swiss International Air Lines together have 5%. Lufthansa bought Swiss in 2005.
Lufthansa further said it will acquire the remaining shares in its regional air carrier Eurowings from AK Industriebeteiligung GmbH. The shares will be transferred as of Dec. 31, the company said without providing further details.
Lufthansa's comments are the latest sign that the European airline sector continues to consolidate and the German airline remains one of the main mergers and acquisitions engines.
Lufthansa has placed an offer for Austrian Airlines AG (AUA.VI) and has stated interest in Alitalia SpA (AZA.MI). Media reports have also mentioned its interest in SAS AB (SAS.SK).
Company Web site: www.lufthansa-financials.com
29 October 2008
Dow Jones International News
(c) 2008 Dow Jones & Company, Inc.
FRANKFURT (Dow Jones)--German flag carrier Deutsche Lufthansa AG (LHA.XE) Wednesday said it is in talks with Michael Bishop, founder of British Midland Airways Ltd., or BMI, over the future structure of the U.K. airline.
In its third-quarter report, Lufthansa said Bishop has exercised a put option, which requires Lufthansa to purchase his 50% plus one share stake in BMI.
The completion of the BMI put option exercise isn't expected to occur before Jan. 12, Lufthansa said.
Lufthansa already owns a 30% stake in BMI. The remaining 20% are owned by SAS AB (SAS.SK).
BMI is a small airline by global standards but has a valuable asset. It controls 11% of the takeoff and landing slots at London's popular Heathrow Airport, the world's busiest international airport, placing it second after British Airways PLC (BAY.LN), which controls more than 40% of the slots this summer. Lufthansa and its subsidiary Swiss International Air Lines together have 5%. Lufthansa bought Swiss in 2005.
Lufthansa further said it will acquire the remaining shares in its regional air carrier Eurowings from AK Industriebeteiligung GmbH. The shares will be transferred as of Dec. 31, the company said without providing further details.
Lufthansa's comments are the latest sign that the European airline sector continues to consolidate and the German airline remains one of the main mergers and acquisitions engines.
Lufthansa has placed an offer for Austrian Airlines AG (AUA.VI) and has stated interest in Alitalia SpA (AZA.MI). Media reports have also mentioned its interest in SAS AB (SAS.SK).
Company Web site: www.lufthansa-financials.com
#10
Join Date: Aug 2001
Location: London. Edinburgh, Cornwall
Programs: BA GGL, British Midland Lifetime* Loser
Posts: 7,941
It is an "irrevocable process" says bmi...but of course it needs regulatory and shareholder approval. 12 Jan is the earliest that the ownership would change, it says.
#11
FlyerTalk Evangelist
Join Date: Jul 2005
Location: Seat 2A
Programs: AA EXP LT GLD 1MM, BA GLD, NH/UA*G, Hyatt Dia, Marr Tit LT PLT, IHG Spire,HH Dia, MGM NOIR,Hertz PC
Posts: 10,571
And should it come opening another account and getting another 2 e-vouchers
#12
Join Date: Dec 2004
Location: East Midlands, United Kingdom
Programs: UA 1K
Posts: 331
Presumably doesn't necessarily mean Lufthansa has to KEEP its share in bmi - I guess it could immediately sell the holding on again to another interested party, if it so wanted (and if such another party existed)...
A
A
#14
FlyerTalk Evangelist
Join Date: Feb 2004
Location: London
Programs: BA, VS, HH, IHG, MB, MR
Posts: 26,871
It's game over for Diamond Club. Time to work out exactly how many miles you can earn between now and a) Jan 12th for 100% certainty and b) the end of 2009 if you're willing to take a risk, and get those redemptions booked.
I assume - and this is a separate thread, I suppose - that the logical thing to do would be to book for the ROUTE you want, even if the dates are useless, and then pay the rebooking fee to move the date backwards. So, for instance, if we were planning to go to BKK in Feb 2010, I should book flights for, say, Nov 2009 (because that is the best I will get if I have to book before Jan 12th) and then simply change the date later to Feb 2010.
I assume - and this is a separate thread, I suppose - that the logical thing to do would be to book for the ROUTE you want, even if the dates are useless, and then pay the rebooking fee to move the date backwards. So, for instance, if we were planning to go to BKK in Feb 2010, I should book flights for, say, Nov 2009 (because that is the best I will get if I have to book before Jan 12th) and then simply change the date later to Feb 2010.