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Despite the stake transfer, Shanghai YTO Dragon Investment Development (Group) Co Ltd, the parent company of YTO Express, will remain the controlling shareholder.

Disney's global footprint also expands with the acquisition of Fox's international satellite assets, including Star TV network in India and a stake in European pay-TV provider Sky Plc.The acquisition will give Disney a new pipeline of shows and movies as it battles technology companies spending billions of dollars on programming shown online to siphon audiences away from traditional TV networks."This is the right move at the right time as the marriage of these assets creates a much more formidable Disney," said Daniel Ives, an analyst at GBH Insights in a note to clients.Immediately before the acquisition, Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, its sports channels FS1, FS2 and the Big Ten Network into a newly listed company that it will spin off to its shareholders.The "new" Fox is intended to grow and focus on live news and sports, Fox said."It is born out of an important lesson I've learned in my long career in media: namely, content and news relevant to viewers will always be valuable," 21st Century Fox Executive Chairman Murdoch said in statement.Disney Chief Executive Bob Iger, 66, will extend his tenure through the end of 2021 to oversee the integration of the Fox businesses. He has already postponed his retirement from Disney three times, saying in March he was committed to leaving the company in July 2019."This gives us the ability to marry the great content of Fox with the great content of Disney, it gives us a much larger international footprint, and it enables us to use cutting-edge technology to reach consumers in far more compelling ways," Iger told ABC's "Good Morning America" program.Iger said new technology would be necessary to meet the demands of viewers who want to access content anytime.

Do supervisory commissions have "super powers"? Who will monitor them?

Deutsche Bank acted as global coordinator for the IPO, with J.P. Morgan, UBS and CICC as joint bookrunners. King & Wood Mallesons acted as legal counsel.

Didn’t get what you expected under the tree? It’s probably marooned in a package delivery center.