Bmi founder and Chairman Michael Bishop initiated UK court proceedings to force Lufthansa to purchase his 50%-plus-one-share stake in the carrier, according to multiple UK press reports. Bishop in December exercised an option to sell his stake to LH (which owns 30% minus one share) for an estimated £350-£400 million ($544-$622 million) under terms of a contract signed in 1999. LH announced seven months ago that it would purchase Bishop's stake (ATWOnline, Oct. 30, 2008) and the ...

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