Bumi One Step Closer to Cutting Ties with Bakrie Family

Reuters reported that coal miner Bumi has taken steps towards cutting ties with the Bakrie family, who co-founded it the company.

As quoted in the market report:

But, in a statement issued after a Wednesday board meeting, the board indicated it would resist Bakrie plans to unwind the entire venture, saying it had no intention of recommending the sale of its second key asset – a majority stake in Berau Coal – under the terms of a split proposed by the family in October.

To view the whole Reuters report, click here.