Indonesian police to quiz Nat Rothschild over Bumi data theft | This is Money
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Indonesian police to quiz Nat Rothschild over Bumi data theft
By Rob Davies
PUBLISHED: 17:22 EST, 15 February 2013 | UPDATED: 04:33 EST, 16 February 2013
Indonesian police want to question billionaire financier Nat Rothschild over the alleged theft of data that sparked an investigation into financial irregularities at war-torn coal miner Bumi.
The miner launched an internal probe last year into financial irregularities, complicating an acrimonious row between co-founders Rothschild and Indonesias powerful Bakrie family. Bumi later called in City of London police after discovering evidence that the information that triggered the probe was obtained by email hacking.
Indonesian police spokesman Brigadier General Boy Rafli Amar said on Friday that Rothschild would probably be summoned for questioning over the data theft.
Coal scuffle
It comes as Rothschild and the Bumi board prepare for a weekend charm offensive among investors ahead of next Thursdays crucial vote on the firms future.
Rothschild is trying to oust 12 of 14 directors, saying they are under the influence of the Bakries.
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The Bumi board countered that it has proposed the only viable plan to secure the Bakries exit from the company, whose share price has been battered by public brawling. A source close to the situation said: Every vote counts at this stage. Bumis share price has tumbled 58 per cent in the space of a year, despite its ownership of the highly lucrative Berau coal asset in Indonesia.
Shareholders have been put off by the public war of words between Rothschild, the Bumi board and the Bakrie family. The Bumi board has put forward a plan that it says would see the Bakries leave the company for good.
The Bakries are to put a £32million deposit down, before cancelling their 24 per cent Bumi shareholding in exchange for 10pc of subsidiary Bumi Resources. Bumi (down 28.7p to 377.3p) will then sell its remaining 19 per cent of Bumi Resources to the Bakries for £178million.
Read more: Indonesian police to quiz Nat Rothschild over Bumi data theft | This is Money
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at Nat. Indonesian police to quiz Nat Rothschild over Bumi data theft
By Rob Davies
PUBLISHED: 17:22 EST, 15 February 2013 | UPDATED: 04:33 EST, 16 February 2013
Indonesian police want to question billionaire financier Nat Rothschild over the alleged theft of data that sparked an investigation into financial irregularities at war-torn coal miner Bumi.
The miner launched an internal probe last year into financial irregularities, complicating an acrimonious row between co-founders Rothschild and Indonesias powerful Bakrie family. Bumi later called in City of London police after discovering evidence that the information that triggered the probe was obtained by email hacking.
Indonesian police spokesman Brigadier General Boy Rafli Amar said on Friday that Rothschild would probably be summoned for questioning over the data theft.
Coal scuffle
It comes as Rothschild and the Bumi board prepare for a weekend charm offensive among investors ahead of next Thursdays crucial vote on the firms future.
Rothschild is trying to oust 12 of 14 directors, saying they are under the influence of the Bakries.
More...
French luxury goods giant PPR showered by soaring profits
ALEX BRUMMER: The case for Royal Bank of Scotland share sale
The Bumi board countered that it has proposed the only viable plan to secure the Bakries exit from the company, whose share price has been battered by public brawling. A source close to the situation said: Every vote counts at this stage. Bumis share price has tumbled 58 per cent in the space of a year, despite its ownership of the highly lucrative Berau coal asset in Indonesia.
Shareholders have been put off by the public war of words between Rothschild, the Bumi board and the Bakrie family. The Bumi board has put forward a plan that it says would see the Bakries leave the company for good.
The Bakries are to put a £32million deposit down, before cancelling their 24 per cent Bumi shareholding in exchange for 10pc of subsidiary Bumi Resources. Bumi (down 28.7p to 377.3p) will then sell its remaining 19 per cent of Bumi Resources to the Bakries for £178million.
Read more: Indonesian police to quiz Nat Rothschild over Bumi data theft | This is Money
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