News: Disney in talks to build Shanghai Disneyland

Posted at 11:52 AM EDT (1552 GMT)

Jun. 26th, 2006 -- According to Disney chairman George Mitchell and the China Daily newspaper, The Chinese government and The Walt Disney Company are in talks to open a Disneyland theme park in Shanghai.

Mitchell was quoted as saying "We have an interest in proceeding and we hope that satisfactory terms can be worked out and we can proceed."

Disney had previously held negotiations for a park, but no agreement was reached.

Mitchell also did not feel that a Shanghai park would create too much competition for the Hong Kong Disneyland park.

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