Cinema denies takeover talks

THE US owner of Odeon, the UK’s biggest cinema chain, has dismissed reports that rival Vue is poised for a takeover that would create a £3bn multiplex giant.

Potential bidders are said to have been eyeing Odeon since AMC Entertainment – which paid £920m for Odeon last year – suffered a £32m loss in the three months to September. Adam Aron, AMC’s chief executive and president, said: ‘The rumour that Odeon might be sold to Vue is absolute rubbish.’

Aron said AMC could float a stake in Odeon in the next 18 months, but would retain majority ownership. He added: ‘We are extremely pleased with our acquisitions and have begun to implement plans to renovate and enhance our cinemas in Europe.’

AMC, which has struggled to compete with the rise of film streaming services, has seen its shares dive more than 50pc this year.