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Hong Kong may sell stake in Disney park to curb deficit - Reuters, 6/3/03 [Archive] - MousePad

View Full Version : Hong Kong may sell stake in Disney park to curb deficit - Reuters, 6/3/03


Darkbeer
06-03-2003, 12:05 AM
HK may sell stake in Disney park to curb deficit-paper (http://www.forbes.com/newswire/2003/06/02/rtr988927.html) - Reuters, 6/3/03

QuikQuote: The Hong Kong government is considering selling its stake in the upcoming Disneyland theme park to help pay off its massive budget deficit, the Beijing-backed Wen Wei Po newspaper reported on Tuesday.
The US$1.8 billion Walt Disney Company park in Hong Kong is expected to be completed in 2005. The government, which is counting on the project to infect some life into the eocnomy, will own 57 percent of the company which will build and operate the attraction.

Iceman
06-07-2003, 05:59 PM
Interesting... I wonder how much say Disney has in whether or not they can sell and to whom. Since it is a 57% stake, there is the potential that a very non-Disney entity (AOL, for example, or someone from the porn industry) could take control of a Disney park. I'm sure Disney doesn't want that to happen. Perhaps they will snatch up these shares and ensure their own majority stake (or wholesale ownership) in the park?


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