Bumi in talks with regulator to resume trading

Suzie Neuwirth

TROUBLED Indonesian coal miner Bumi today announced that it is in talks with the Financial Conduct Authority to resume trading as soon as possible after its annual meeting next week.

The FTSE 250-listed firm, which has been embroiled in a tug-of-war between its founder Nat Rothschild and the Bakrie family, had its shares suspended in April after failing to produce its financial results by the deadline.

“The board remains committed to the delivery of a separation from the Bakrie Group and Bumi Resources,” added today’s statement.

“Negotiations pertaining to the separation are ongoing, including with respect to the unwind of the joint venture arrangements between the Bakrie Group and the Borneo Group, and a further update will be provided at the [annual meeting].”