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Mattel shares jump after toymaker wins license to make Disney toys

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Disney’s character doll sisters Elsa and Anna, Elsa, are Elsa from Frozen.

Catherine Lane | Getty Images

MattelAfter the manufacturer of toys announced that they have been awarded the rights to create toys on the basis of this material, shares rose Wednesday Walt Disney’The princess line-up includes the “Frozen”, franchise.

After losing the rival license, this is a major victory for Mattel. Hasbro2016

Mattel recently saw its stock rise more than 6% during premarket trading. Hasbro’s stock was almost down 2%.

Mattel will begin selling Disney toys by 2023. The business will also be run by the same company that manages the Barbie franchise. The terms and financial details of the agreement were not revealed.

CNBC reached out to Mattel representatives and Hasbro for clarification but they didn’t respond immediately.

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