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Disney makes concessions as it seeks European approval for US$71bn Fox takeover

The proposals were submitted on Friday, although no details have been released so far as to what the concessions might be

mickey and minnie
EU regulators have given themselves until November 11 to make a decision over the bid

The Walt Disney Company (NYSE:DIS) has offered to make concessions as it tries to allay EU competition concerns over its US$71bn takeover bid for 21st Century Fox Inc’s (NASDAQ:FOXA) entertainment assets.

A filing on the EU regulator’s website revealed that Disney submitted its proposals on Friday, although it did not reveal what the concessions might be.

READ: Disney wins US anti-trust approval for Fox takeover

The Commission has also pushed back the deadline for reviewing the deal by a few weeks to November 11.

It is now expected to ask for feedback from customers and rivals before deciding if the concessions go far enough or whether more compromises are required.

Disney won approval from US regulators back in June after it agreed to sell off Fox’s 22 regional sports networks.

Should it be given the green light, the deal would add X-Men, Avatar and The Simpsons to Disney’s current portfolio of franchises which includes Mickey Mouse, Star Wars and Marvel.

Quick facts: The Walt Disney Company

Price: 163.03 USD

Market: NYSE
Market Cap: $295.78 billion

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