Jan 17, 2018

Cineworld/ Regal: one star

If you want to make it big in the movies you have to crack the US. UK cinema chain Cineworld, which wants to buy Regal Entertainment of the US, is just another starry-eyed wannabe on Sunset Boulevard. Cineworld proposes an all-cash offer of $23 a share - a steep price not far from Regal's record high last year. Cineworld shareholders will receive four new shares for every one they own at a price of 157p a share. In 2017 Cineworld's box-office sales grew 10 per cent, but Regal's fell 2.6 per cent and concession sales dipped 0.3 per cent. Cineworld's big screen dreams cost too much at this price.

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