Cineworld Responds To Speculation, Vodafone Agrees Sale, Wizz Air Sees Leadership Change: Morning Roundup

Dive into the top stories from London Listed Stocks on Monday…

Cineworld

  • Cineworld has responded to recent media speculation, which sent its shares significantly lower.
  • The company confirmed it is considering Chapter 11 bankruptcy and is evaluating strategic options to achieve its restructuring objectives.
  • Cineworld is in discussions with many of its major stakeholders, including its secured lenders and their legal and financial advisers.
  • Any filing will allow the group to access near-term liquidity and support the orderly implementation of a fully funded deleveraging transaction.

Vodafone

  • Vodafone announces it has agreed non-binding terms in relation to the sale of Vodafone Hungary for €1.8 billion to 4iG and Corvinus.
  • This represents a multiple of 9.1x Adjusted EBITDA for the 12-month period ending 31 March 2022, according to Vodafone.
  • Nick Read, Chief Executive of Vodafone, said: “The Hungarian Government has a clear strategy to build a Hungarian owned national champion in the ICT sector.”

Wizz Air

  • Wizz Air has announced a leadership change on Monday.
  • Group Chief Financial Officer of Wizz Air, Jourik Hooghe, has decided to step down to pursue opportunities outside of the company.
  • Jourik will be available during the transition period until December 31st, 2022.
  • Ian Malin will be joining Wizz Air on October 1 2022, to take on the Group Chief Financial Officer position.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s