“The Bakries said in a statement that Mr. Rothschild’s proposal was “unworkable,” given that Mr. Tan’s and Mr. Roeslani had informed Bumi’s board that they had no intention of selling their respective stakes on the terms proposed by Mr. Rothschild’s investment group.”
“According to Wednesday’s statement from the group, neither is willing to sell on the terms proposed.”
Translation – Both parties think the assets worth more. A lot more. If the Bakries want Berau up your offer or bid outrigtht for the minorities. If Ol Natty and chums want Bumi in full ditto bid for the entire Group. My monies on the Bakries bidding outright.
Maybe the lightbulb is being switched on..?