Cineworld shares tank after Regal Cinemas owner ditches plans to sell US and UK businesses

Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses.The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help it exit bankruptcy. The deal does not provide for any recovery of funds for shareholders, the company said in a statement.

Source: Cineworld shares tank after Regal Cinemas owner ditches plans to sell US and UK businesses | CNN Business