Mexican regulators have given the last close down to Disney's $73.1 billion merger with the benefits of 21st Century Fox, clearing the companies to finish the deal by March 20. The country?s Federal Telecommunications Institute (IFT) said Tuesday that during its regular session the day before it unanimously voted to approve the tie-up, subject to compliance with conditions that prevent competition risks like the selling off of Fox?s regional sports networks.
Disney prior Tuesday in uncovering the March 20 target date indicated the company has gotten the last significant endorsement for the deal from Mexico. Like with Brazil a month ago, the main sticking point was Disney's putative ownership of Fox sports given the significance of soccer rights; the mix of Fox and Disney's ESPN was likewise seen carefully by regulators in the U.S. furthermore, Europe, with real agencies there requiring divestitures.
Fox's RSNs, with an aggregate worth of more than $15 billion, are being shopped. As stipulated by a settlement among Disney and the U.S. Bureau of Justice, those divestitures can proceed for a brief timeframe past the main deal?s anticipated shutting, yet are relied upon to finish up this year.
Disney said Tuesday that 21st Century Fox shareholders will have until Thursday to choose the amount of cash and Disney stock to receive in the transaction; Fox shareholders will receive a mix of cash and stock valued at $38 a share in the deal.