Vue International's bid for Cineworld stalls - Sky News
(Reuters) - London-based cinema operator Vue International has not been able to pursue discussions about a deal for struggling rival Cineworld Group, 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)