Nat Rothschild sees challenges for Bumi even after Bakrie exit

LONDON, Oct 11 (Reuters) - Financier Nat Rothschild, one of the founders of coal miner Bumi Plc , said on Thursday he saw challenges for the company even after the exit of Indonesia's powerful Bakrie family, with ownership remaining concentrated.

Rothschild, in a statement, declined to comment on a deal proposed by the Bakrie family that would take back the Indonesian assets they brought to Bumi Plc, and effectively unravel the company. He said he would wait until a probe into potential financial irregularities was complete.

"As has been noted over the last 12 months, there have been challenges in implementing appropriate standards of corporate governance and these have been a source of friction amongst the board members and shareholders," Rothschild said.

"Even if the Bakries exit, one of the key concerns that I share with other minority investors is that Bumi Plc would still face a concentration of ownership by a small number of closely-related parties and such challenges would remain."

(Reporting by Clara Ferreira-Marques; Editing by Sinead Cruise)

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