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Phuong Nam to divest from Korean cinema chain CGV

Under pressure to pay a $7-million debt and an $812,115 interest, Phuong Nam Culture JSC or PNC has to sell more than half of its shares held in CJ CGV Vietnam Co., Ltd.

Gaining over $118 million on revenue, is CGV taking over the cinema market in Vietnam?

The CGV cineplex Vietnam is posing a risk of exclusive distribution in the current cinema market, especially, with the recent shutdown of Platinum, another big competitor.

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