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Rothschild to Bakrie family: 'you are extremely DUMB'
by Danielle Levy on Mar 26, 2014 at 12:09
Nat Rothschild and a member of the Bakrie family have taken to Twitter to air their grievances following the split of resources firm Bumi from the Indonesian family.
In a drawn out conversation on the social media site Bakrie also tweeted: 'Bumi resources back to Indonesia . . . Protect Country resources from imperialist. Good bye London . . . It was a bittersweet experience,'
Bakrie replied: 'Indonesia is an amazing investment haven make no mistake. It is only bad when a minority try to take control by dirty trick.'
The Bakrie family sold a stake in the country’s largest coal exporter into the original deal back in 2010, and has proposed to buy back the assets in a move that would end their ties with the mining group.
The tie-up between the Bakrie family and Rothschild first started in 2010 after he raised $700 million to invest in mining assets. Bumi was then created from a stake in a Bakrie-owned coal miner. However, the founders fell out and the company has been plagued with accusations of poor corporate governance.
Rothschild quit Bumi's board in 2012 and has since been vocal about the need for change. The Bumi saga attracted criticism from Richard Buxton, during his time at Schroders, alongside Artemis' John Dodd as events unfolded.
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