Vue International's bid for Cineworld stalls - Sky News (updated)
16/03/2023 13:07
(Adds background, more details)
March 16 (Reuters) - London-based cinema operator Vue
International has not been able to pursue discussions about a
deal for struggling rival Cineworld Group CINE.L , after it was
frozen out of a sale process run by Cineworld's advisers, Sky
News reported on Thursday.
Cineworld, the world's second-largest cinema chain operator,
is exploring a sale and looking at a possible plan of
reorganisation to fix its debt-ridden balance sheet as it aims
to exit Chapter 11 bankruptcy in the first half of this year.
It was unclear whether the discussions would be revived, the
Sky report added.
Cineworld and Vue International declined to comment on the
report.
Sky News had reported last week Picturehouse founder Lyn
Goleby held talks with Vue about buying back the chain sold to
the bankrupt cinema operator in 2012, a move that would have
assisted Vue from a competition perspective.
(Reporting by Sinchita Mitra and Yadarisa Shabong in Bengaluru;
Editing by Krishna Chandra Eluri)
((Sinchita.Mitra@thomsonreuters.com;))