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Bishop settles bmi sale wrangle with Lufthansa

23rd June 2009

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CHESHIRE-born airline tycoon Sir Michael Bishop, founder of bmi,  will make £223m from the sale of his half-share in the carrier after settling a legal action with Germany's Lufthansa. Lufthansa, which already owns 30% of bmi, struck a deal with the Bowdon-born Bishop in 1999 to buy out his stake at a later date. In October last year, Mr Bishop  exercised his right to sell the rest of his interest (50% plus one share), which would have forced the Germans to hand over about £287m.With the value of airlines havi......for the full story register now for free or login below...


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