
Shanghai Disneyland. Photo: VCG
Walt Disney Co. is sighing in relief. The company said this week that it has won unconditional approval from Chinese authorities for its $71 billion purchase of assets from 21st Century Fox, assuaging fears that China may block the deal on account of its trade spat with the U.S.
According to Bloomberg, the ruling removes one of the last major hurdles for the deal, which brings together entertainment assets of Rupert Murdoch’s empire with Disney. The latter has already obtained approval from regulators in the U.S. and the European Union, and has agreed to their requirements around divestiture.
Disney invests heavily in China, including in theme parks in Shanghai and Hong Kong.