Chinese regulators approved Disney’s proposed acquisition of Twenty-First Century Fox assets Monday, CNBC has learned, sending each company’s stock higher.
Shares of Disney rose roughly 1 percent, after initially trading lower Monday morning. Shares of Fox rose 3 percent.
The deal still needs regulatory approval from several countries, but the unconditional Chinese approval marks a big hurdle for Disney, amid ongoing trade tensions. U.S. antitrust regulators approved the deal in June, and EU regulators approved the deal earlier this month — though both attached divestment conditions.
A deal could be completed as early as spring 2019.
This story is developing. Please check back for updates.
