Bumi

Bumi shareholders to vote on board makeup

Nat Rothschild's proposal to replace the Bumi board will be decided today, but the vote is unlikely to signal the end of an embarrassing drama.
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Today’s vote will have implications on the ownership of Indonesia’s largest coal miner, Bumi Resources (AFP) </div>
<div style="text-align: left;"> Today’s vote will have implications on the ownership of Indonesia’s largest coal miner, Bumi Resources (AFP) </div>

Later today, Bumi Plc shareholders will meet at London’s Armory House to vote on Nathaniel Rothschild’s attempt to replace 12 of the company’s 14 directors. It should mark the dissolution of a bitter and acrimonious marriage between the financier and his Indonesian partner, the Bakrie group. However, it is unlikely to mean the end of recriminations.

Rather than lead to a separation, where the two parties can move on and put the past behind them, the decision today might merely change the venue of their disputes and for their personal vitriol moving from public relations departments to the law courts.

The company was originally billed as a...

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