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30 Jul 2010
Universal in talks over Indian park
Universal Studios and Reliance ADA Group have opened talks over the possibility of establishing a new US$1.5bn (£960bn, €1.1bn) theme park in India.
If a deal is agreed, it would be likely that Reliance, a company owned by Indian billionaire Anil Ambani, would own and operate the park while paying Universal royalties and fees for using the brand and its intellectual properties.
The companies declined to comment on "market speculation".
Universal opened its latest new theme park in Singapore earlier this year. It has also announced plans to build a US$2.7bn (£1.65bn) park in Seoul, South Korea.
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