Universal is developing a feature film based on the Spanish-language short
Mama, from newcomers Andy and Barbara Muschietti. Guillermo del Toro is apparently in negotiations to produce the film and mentor the filmmakers, much like he did with Juan Antonio Bayona for The Orphanage.
The Muschietti duo are currently working on the English-language script, with the possibility of filming to take place in New Zealand while del Toro shoots
The Hobbit next year. The premise is being kept under wraps, but the short reportedly centers on two girls, Victoria and Lily, who are on the run from a ghostly woman who appears to be their mother.
The "effects-heavy picture" will likely contain an "emotional as well as a horror element, since the girls are pursued by someone, who at one time was their guardian and caretaker."
Source:
www.upcominghorrormovies.com
And here is the short film MAMA: