Nathaniel Rothschild’s bid to oust most of the board of Bumi Plc, the Indonesian coal venture he founded and is fighting to gain control of, may struggle after one of his earlier supporters said it would vote against him.
Prudential Plc shareholders Richard Buxton and Robin Geffen of Schroders Plc called on Chief Executive Officer Tidjane Thiam to quit over his failed attempt to buy American International Group Inc.’s main Asia unit, U.K. newspapers reported today.
Prudential Plc Chief Executive Officer Tidjane Thiam should step down following the company’s failed $35.5 billion bid to buy American International Group Inc.’s main Asian unit, the Financial Times cited Schroders Plc’s head of U.K. equities, Richard Buxton, as saying.
The U.K. government may start selling its 40 percent stake Lloyds Banking Group Plc this year after a surge in the bank’s shares, according to Robert Talbut, chief investment officer of Royal London Asset Management Ltd.
Bumi Plc, the coal producer that plunged 69 percent last year amid a dispute over control, set up a February showdown with co-founder Nathaniel Rothschild after the financier moved to take over the company.