Vue Cinemas is poised to swoop on Cineworld in a “huge consolidation play” ahead of a possible stock market flotation.
The UK’s third largest cinema group has confirmed speculation that it was ready to take advantage of any opportunities as speculation mounts that Cineworld could be broken up.
Vue currently has 91 venues across the UK and Ireland. Its ambitions are perhaps surprising given that it is only a few months since it went through a £1bn restructuring that wiped out both its Canadian backers and the management’s 26% equity stake.
Cineworld is believed to be considering a break-up by country, after its attempt to takeover Canada’s Cineplex turned sour.
