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Investors pummel Euro Disney on debt report
- Article from:
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International Herald Tribune
- Article date:
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August 2, 2003
- Author:
- John Tagliabue
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Shares in Euro Disney posted one of their biggest one-day drops in
almost a decade Friday, after the company cautioned it might not have
enough cash to pay back debts owed its banks and its principal shareholder,
Walt Disney.The conflict in Iraq, the spread of the SARS virus and
Europe's economic slump have slowed tourism and buffeted the hotel
and theme park business. The shock came less than a year after Euro
Disney opened its $615 million, 62-acre Walt Disney Studios Park next
to its highly successful Disneyland Paris theme park east of Paris.
Euro Disney said overall revenue in its financial third quarter, which
ended June 30, was §275.6 million, or $309.9 ...