Cineworld shareholders back its Regal takeover

Cineworld’s shareholders have backed a £2.5bn deal to buy larger US cinema chain Regal Entertainment, rejecting calls from shareholder advisory group Institutional Shareholder Services to vote against a deal. The ISS had voiced concerns over both the operational and financial risks of the deal, given Cineworld’s EU focus and the amount of debt it would need to take on to fund the deal. However, more than 87pc of voting shareholders approved the deal yesterday.