Lufthansa eyes SAS stake in BMI: Report
Lufthansa is interested in buying a 20-per cent stake in British airline BMI currently held by Scandinavian Airlines System (SAS), the business daily Handelsblatt reported on Thursday.
By Agencies |
FRANKFURT: German flag carrier Lufthansa is interested in buying a 20-per cent stake in British airline BMI currently held by Scandinavian Airlines System (SAS), the business daily Handelsblatt reported on Thursday.
Lufthansa, which already controls a stake of 30 per cent minus one share in BMI, is "very interested" in raising that holding and is in talks with SAS, the newspaper said, quoting sources close to the company. A spokesman for Lufthansa was not immediately available to comment on the report.
BMI is relatively small but is interesting for major carriers because it holds 12 per cent of the take-off and landing slots at London's Heathrow airport, Europe's busiest.
Takeover rumours regularly do the rounds and British Airways was most recently seen as preparing to buy BMI, which is not listed and is majority owned by its founder and chief, Michael Bishop, who holds 50 per cent plus one share. On Wednesday, SAS announced it would focus on its core business and sell off a number of assets, including its stake in BMI.
Lufthansa, which already controls a stake of 30 per cent minus one share in BMI, is "very interested" in raising that holding and is in talks with SAS, the newspaper said, quoting sources close to the company. A spokesman for Lufthansa was not immediately available to comment on the report.
BMI is relatively small but is interesting for major carriers because it holds 12 per cent of the take-off and landing slots at London's Heathrow airport, Europe's busiest.
Takeover rumours regularly do the rounds and British Airways was most recently seen as preparing to buy BMI, which is not listed and is majority owned by its founder and chief, Michael Bishop, who holds 50 per cent plus one share. On Wednesday, SAS announced it would focus on its core business and sell off a number of assets, including its stake in BMI.
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