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From Times Staff and Wire Reports
Progress Reported in Euro Disney Talks: Reports from Europe were that a debt-restructuring plan with European banks may include offering $1 billion in new shares for sale, as well as a waiver of royalties by Walt Disney Co., which operates the theme park outside of Paris. The lenders were also said to be considering lowering interest payments on Euro Disney’s debt, which is about $3.5 billion. The London-based Financial Times reported that half the cost of the $2-billion restructuring would come from the securities sale and about a third would be realized from the reduced payments to banks and the waiver of royalties.
