January 10, 2024Business Desk

Zee committed to sign merger with Sony

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.

Source: Pexels