The merger between Sony and Zee has been in the works since 2021. Media reports stated that Sony's plans to pull the plug on the merger and send Zee a termination notice by January 20.
Source: Pexels
Sony Group has mentioned that the talks with Zee Entertainment with regards to the proposed $10 billion merger are ongoing and that they will continue till January 20, according to Nikkei.
Source: Pexels
The news comes a day after Zee Entertainment issued a clarification on news reports which highlighted Sony's plans to pull the plug on the merger, calling them "baseless" and "factually incorrect."
Source: Pexels
Zee Entertainment had also mentioned that they are committed to completion of the merger and are working towards a successful completion of the same.
Source: Pexels
Experts anticipated that Zee's shares can fall between 30% to 40% in case the deal does not go through.