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TMCNet:  Indonesian police to quiz Rothschild

[February 18, 2013]

Indonesian police to quiz Rothschild

Feb 16, 2013 (Daily Mail - McClatchy-Tribune Information Services via COMTEX) -- 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 Indonesia's 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 yesterday that Rothschild would probably be summoned for questioning over the data theft.

It comes as Rothschild and the Bumi board prepare for a weekend charm offensive among investors ahead of next Thursday's crucial vote on the firm's future.

Rothschild is trying to oust 12 of 14 directors, saying they are under the influence of the Bakries.

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." Bumi's share price has tumbled 58pc 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 pounds sterling 32m deposit down, before cancelling their 24pc Bumi shareholding in exchange for 10pc of subsidiary Bumi Resources. Bumi (down 28.7p to 377.3p) will then sell its remaining 19pc of Bumi Resources to the Bakries for pounds sterling 178m.

___ (c)2013 Daily Mail (London, ) Visit the Daily Mail (London, ) at www.dailymail.co.uk/home/index.html Distributed by MCT Information Services

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