BMI resists efforts by Lufthansa to sell stake.

(From FT Investor (Pulses))

Sir Michael Bishop, chairman and controlling shareholder of BMI British Midland, is resisting efforts by Lufthansa, the German carrier, to dispose of its minority stake in the UK carrier without his support. Sir Richard Branson, chairman of Virgin Atlantic, has stated repeatedly that he would like to engineer a merger of BMI with Virgin Atlantic. But such a deal could only be achieved with the approval of Sir Michael, who controls a majority stake of 50 per cent plus one share in BMI. Lufthansa holds a stake of 30 per cent minus one share in the UK airline, while SAS Scandinavian …