Published: 08/02/2007 12:00 AM (UAE)
Disney denies holding talks on Bahrain park
Los Angeles: Walt Disney Co denied that it is in talks to build a theme park in Bahrain, following a newspaper report saying Saudi billionaire Prince Al Waleed bin Talal was negotiating to build an $8 billion Disney park in the heart of the world's biggest oil exporting region.
The project purportedly would be based on Disney's theme parks and could be called "Disney Bahrain," Bahrain's Al Waqt newspaper said, citing an unnamed source.
But a Disney spokes-woman said the company "is not in talks to build a theme park in Bahrain."
Al Waleed, the world's eighth-richest man, is talking to investors including Kuwait Finance House, the Gulf's second largest Islamic bank by market value, and Bahraini institutions, the paper said.
Al Waleed indirectly owns 10 per cent of Disneyland Paris operator Euro Disney.
Disney has 11 theme parks worldwide and has said it wants to build one in Shanghai to tap growing wealth created by China's economic boom.