Cineworld owners refuse to be frozen out by short sellers

posted in: All News | 0

The Israeli dynasty behind Cineworld has hit back against an attack by short sellers, insisting the chain has the “full support” of Singapore’s sovereign wealth fund as it pursues American ­expansion.

Hedge funds have ramped up their bets against Cineworld, which is due to issue its crucial pre-Christmas trading update this week.

They are taking on the Greidinger family, who own 28pc of the FTSE 250 company, and two years ago borrowed more than £270m from Singapore’s GIC to help fund the £3bn takeover of US multiplex chain Regal.

Source: Cineworld owners refuse to be frozen out by short sellers