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 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 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.