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Digital is also at the heart of L'Oreal. We have pushed forward our digital evolution (by rolling out) four strategies. We want to become a data-driven firm, embracing e-commerce and reinventing marketing models with a product plus service.

Direct-to-consumer service is a top company priority, he added.Disney will also assume about .7 billion of Fox's net debt in the deal.Through Fox's stake in the Hulu video streaming service, Disney would assume majority control of one of Netflix Inc's main competitors. Hulu is also partially owned by Comcast Corp and Time Warner Inc.

Dominic Shine, CIO of media and real estate firm News Corp.

Discussions will focus on bilateral relations, economic policy and international issues, the statement said.

Diao said the negotiations are likely to be long and tough. For years, the civil aviation aircraft market has been a seller's market. The dominant status of the aircraft manufacturer duopoly of Boeing and Airbus has put airlines in a vulnerable position in negotiations.