Disney is busy putting the finishing touches on its 5.5 billion US dollar resort in Shanghai ahead of Thursday’s grand opening, but the company's CEO has taken time out to hit back at Chinese rival Dalian Wanda Group.
Disney is battling for market share with its Chinese counterpart and business partner – and that battle is increasingly being played out in public.
Disney CEO Robert Iger said he was shocked by Dalian Wanda Chairman Wang Jianlin’s claim that the US group was no match for his “wolf pack”, as the two companies have business connections,
Wang said the US company had misread the Chinese market and shouldn’t have stepped on his home turf. “One tiger is no match for a pack of wolves - Shanghai has one Disney, while Wanda, across the nation, will open 15 to 20,” Wang said in an appearance on a CCTV show that aired on Sunday.
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