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