Euro Disney shares surge on finance deal report
PARIS, Sept 20 (AFP) - The price of shares in the theme park operator Euro Disney surged by 13.79 percent in early trading on Monday on a press report that it was about to obtain agreement with creditors to restructure debt.
The shares gained 13.79 percent to EUR 0.33. The overall market as measured by the CAC 40 index was showing a loss of 0.48 percent to 3,708.18 points.
The French business newspaper La Tribune reported on Monday that negotiations between Euro Disney and its creditors were about to succeed, and now depended on only one speculative investment fund holding some debt.
The newspaper quoted the company as saying that it still aimed to sign an agreement before September 30.
The company, which runs a theme park, hotels and property interests east of Paris, has obtained several extensions of missed deadlines to reach a refinancing deal with creditors after warning in August 2003 that it would not be able to respect some of its loan obligations in 2003 and 2004.
Subject: French News