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Your point on decision making speed is well-made, Graham. I'm reminded of the fact that when we sold Odeon to AMC in the summer of 2016 the presence of one single AMC cinema (in Manchester, England) led to an overlapping set of European and UK competition investigations which delayed completion by about 6 months and resulted in the (entirely obvious from day 1) conclusion that the new entity should sell one of the two cinemas it now owned which were very close to each other.

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