I'm not convinced by rumours!!
However, it is a FACT that Qantas is in discussions with ANZ regarding buying a stake in the latter; if this happens, ANZ will apparently have to leave Star...perhaps this has partly come about due to BA's involvement in Qantas.
On the other hand, SIA apparently have plans for an Australian airline, so this could soften the blow of ANZ having to quit Star (and paying something in the region of $30 million to do so).
There may be a revolution in the structure of alliances, just round the corner!