I'm sorry, but this is silly. Lufthansa have said that that they will exercise their call option. That means they will buy bmi at the pre-agreed price. Nothing the Bish can do to get out of that one. Putting out inaccurate press statements (and perhaps posting on pprune) is just bmi's way of saying that they won't go quietly into Lufty's arms, so can they have a little bit more money please.
Lufty's Chief Executive Officer was quoted in the Financial Times today as explaining exactly how the call option will be exercised (in 2 lots). That's the press statement: he read it out.
SR 71 asks a reasonable question:
However, I find it strange that SMB would have ever put himself in this position.
I would guess that the Bish wanted an exit strategy for his stake in bmi. That's the 'put' option: he can force Lufty to buy. And the price of the 'put' option was - yes, you've guessed it - the 'call option: Lufty can (and will) force him to sell.
Where the Bish's crystal ball went U/S was that he did not forsee that the Open Skies agreement with the USA would come into force before the expiry of the call option. This means he's forced to sell to Lufty for less than bmi is currently worth. ho hum.