Nat Rothschild announced his shock resignation from the board of coal group Bumi last night and said he had "great regret" in bringing its Indonesian backers to London.
The billionaire financier stepped down after a dispute over a £750m offer from Indonesian shareholders to cut ties with the company, the Telegraph reports. He said it was a "disgrace" for the board to even consider the offer as it waits for the findings of an investigation into the use of funds at Indonesian subsidiaries. In a letter to the board, Rothschild voiced his opposition to plans from Indonesia's Bakrie family to buy back the company's assets. "You appear determined to drive through the Bakries' proposal," he wrote to Bumi's chairman Samin Tan. "I believe that this propos...
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