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BEIJING, Feb. 9 -- Walt Disney Co yesterday
moved to quell speculation that it is on the verge of reaching a deal with the
government over a proposal for a Disneyland theme park in Shanghai.
Rumours of an impending agreement reached fever pitch
on Tuesday after Robert Iger, Disney's president and CEO, was quoted on Hong
Kong Cable TV as saying talks with the Chinese Government were "ongoing."
On Wall Street, Disney stock climbed almost 7 per
cent by the market's close on Tuesday, its highest price in six months, but
company spokeswoman Allanah Goss was quick to dispel any ideas that an agreement
was imminent.
"There is nothing new to report on the progress of
Shanghai discussions," she said. "The Walt Disney Co has not reached an
agreement with Shanghai to build a second theme park in China. If we were to
reach an agreement for a second park in China, it would not open before 2010.
"China is a priority for the entire company and we
have a continuing dialogue about a variety of Disney initiatives, including
television, motion pictures and consumer products, of which theme parks are only
a part."
The Shanghai municipal government yesterday refused
to comment on whether negotiations were taking place.
Although stories about a Shanghai Disneyland have
been circulating since 2003, all sides have remained tight-lipped about concrete
progress one reason Iger's comment sparked such a storm.
Since the opening of Disneyland Hong Kong last
September, speculation on the company's plans for Shanghai has intensified, but
both the company and Hong Kong's Economic Development and Labour Bureau agree
that no rival Disneyland will open on the Chinese mainland until at least 2010.
At the time the Hong Kong park opened, China Radio
International reported Shanghai Disneyland would open in 2012 and identified a
500-hectare site in Pudong's Chuansha Town as having been earmarked for the
development.
(Source: China Daily) | 
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