Mattel Inc said on Wednesday it had won a license to make toys based on Walt Disney Co's "Frozen" franchise and princess lineup, years after losing the license to rival Hasbro Inc.

Hasbro did not immediately respond to a Reuters request for comment.

A deal would reunite the popular Disney characters with Mattel. The company will start selling new Disney toys in 2023.

Shares in Mattel rose about 8%, while those of Hasbro fell around 1% in premarket trading.

Hasbro in 2016 began selling Disney Princess and "Frozen" dolls after edging out Mattel for a license.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun Koyyur) ((;))