Elliott plans bid for parts of embattled Cineworld, Sky News reports

FILE PHOTO: People enter a Cineworld cinema following the outbreak of the coronavirus disease (COVID-19) near Manchester
A Cineworld cinema near Manchester, Britain, October 4, 2020. REUTERS/Phil Noble

March 25 (Reuters) - Activist investor Elliott Management is planning a takeover of parts of the embattled British cinema operator Cineworld Group (CINE.L) , Sky News reported on Saturday.

Elliott has tabled a bid to buy Cineworld's operations outside Britain and the United States, and is understood to have explored a bid for the whole of the London-based group, the report said.

Elliott is interested in acquiring Cineworld's operations in eastern Europe and Israel, Sky said.

Cineworld, which is currently under Chapter 11 bankruptcy protection, did not immediately respond to a Reuters request for comment.

Elliott Management declined to comment on the report.

Sky News reported last week that rival cinema operator Vue International had not been able to pursue discussions about a deal for Cineworld, after it was frozen out of a sale process run by Cineworld's advisers.

Cineworld said in February it may emerge from Chapter 11 bankruptcy protection in the first half of this year.

Reporting by Mrinmay Dey in Bengaluru; editing by Jason Neely and Andrew Heavens

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