Advertisement
UK markets open in 35 minutes

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,165.63
    +402.60 (+2.27%)
     

  • CRUDE OIL

    79.60
    +0.60 (+0.76%)
     

  • GOLD FUTURES

    2,325.40
    +14.40 (+0.62%)
     

  • DOW

    37,903.29
    +87.37 (+0.23%)
     

  • Bitcoin GBP

    45,824.28
    -1,871.01 (-3.92%)
     

  • CMC Crypto 200

    1,261.49
    -9.25 (-0.73%)
     

  • NASDAQ Composite

    15,605.48
    -52.34 (-0.33%)
     

  • UK FTSE All Share

    4,418.60
    -11.65 (-0.26%)
     
Money:

Family finances

Who is the breadwinner in your family and does it matter?

Shareholders in miner Bumi back split with Bakrie family

Reuters - UK Focus

LONDON, Dec 17 (Reuters) - Shareholders in Indonesia-focused coal miner Bumi Plc have backed a planned split with the influential Bakrie family that co-founded the company, a key step towards the long-awaited overhaul of the group.

The divorce plan was widely expected to be approved at a shareholder meeting on Tuesday, after co-founder and investor Nat Rothschild struck a last-minute peace deal with management, and lent his support.

In the end, more than 91 percent of those voting supported a key vote on the sale of the Bumi Resources (Jakarta: BUMI.JK - news) subsidiary, paving the way for a split which investors hope can fundamentally revamp a business battered by boardroom rows, allegations of wrongdoing on all sides and a sharp drop in the price of coal.