Cineplex begins legal action against Cineworld

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Cineworld Group PLC said Monday that Canada's Cineplex Inc. has started legal proceedings against it in relation to its termination last month of a proposed acquisition of the Canadian company. The proceedings allege that Cineworld breached its obligations under the agreement and claim damages of up to 2.18 billion Canadian dollars ($1.61 billion) minus the value of Cineplex shares retained by Cineplex shareholders, Cineworld said.

 

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