In 1989, the Walt Disney Company announced a public share offering of its young European arm. It was the continent’s largest-ever IPO to that point and analysts said Euro Disney stock promised "good long-term returns." Euro Disney managers say the firm has struggled because initial projections were too optimistic and the park borrowed too heavily. They also blame a lack of visitors, Europe’s weak economy and, in many years, guests who spend too little on food and merchandise.
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