Disney scraps Russian plans

By Chris Dziadul

Walt Disney Co has scrapped plans to buy a 49% stake in Russia’s Media One holding for a reported $233 million (€174.6 million).

According to Kommersant, the US company has cited obstacles to the deal placed by the Russian authorities that it believes are political in nature.

A deal between the two parties was reached in October 2008 but subsequently blocked by the Russian anti-monopoly service (FAS) this February.

Had it gone ahead, Walt Disney Co would have launched the Disney Channel in Russia.