India's Carnival in talks to buy cinemas in UAE, Bahrain - sources | Reuters

India's Carnival in talks to buy cinemas in UAE, Bahrain - sources | Reuters:

India’s Carnival Cinemas and a partner in the United Arab Emirates (UAE) are in talks to buy Qatar-based Novo Cinemas’ theatres in the UAE and Bahrain, three sources familiar with the matter told Reuters. The potential deal highlights moves to separate cross-border businesses in the Gulf following a boycott imposed on Qatar by Saudi Arabia, the UAE, Bahrain and Egypt since June 2017. Carnival Cinemas has been in talks with UAE-based Emirates National Holdings as a potential co-investor, one of the sources said. Carnival operates in 115 cities in India, according to its website.