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STOCKS NEWS EUROPE-Euro Disney surges on Disney buyback

Reuters - UK Focus

Shares in Euro Disney (Paris: FR0010540740 - news) jump 8 percent in huge volumes after parent Walt Disney Co. says it will increase its share buyback programme to up to $8 billion in the 2014 fiscal-year, from about $4 billion currently, reviving speculation about the European unit.

"Some people say that if Disney has a lot of cash, then fresh investments could be injected in the unit, but the main idea is that the parent could simply take over Euro Disney," a Paris-based trader says.

Disney has a 40 percent stake in Euro Disney.

A Euro Disney spokesman declined to comment on the speculation.

For more on this:

Rm (LSE: RM.L - news) ://alexandre.boksenbaum-granier.thomsonreuters.com@reuters.net