Vue International receives bid from South Korean cinema group

South Korean cinema owner CJ-CGV is reportedly preparing an acquisition of UK-based group Vue International for a potential £2bn.

According to Sky News, the Korean group has been scouting for investment banks to potentially manage the deal.

The cinema chain has mooted the idea of a public listing in the near future, and a move from CJ-CGV is likely to trigger further offers from competitors.

In an earnings report last month, Vue said both profits and turnover declined as a result of underperforming blockbusters.

The South Korean group has made several international acquisitions in recent years, including the merger with Turkish outfit Mars Cinema for $800m in 2015.

Earlier this year, former ITV chief Adam Crozier was appointed as chairperson of Vue, having been replaced at the broadcaster by ex-EasyJet boss Carolyn McCall.