US buyout firm the Blackstone Group is in reportedly inexclusive talks to buy British cinema chain Cine UK for about £120m ($216million) after last month missing out on buying the rival Odeon chain,according to Reuters.

Quoting 'people familiar with the situation'Reuters said an agreement to buy the business, owned by J.P. Morgan'sprivate equity arm and other investors, is weeks away.

Blackstone last month was outbid for the Odeon business,which was sold to financier Guy Hands' group Terra Firma.