Zee Entertainment s plea seeking the implementation of merger with Sony Pictures India arm will be taken up by the National Company Law Tribunal (NCLT) on March 12. Zee s share prices climbed after the NCLT listed the plea. The merger scheme, which would ve created a $10 billion media entity, was approved by NCLT s Mumbai bench in August 2023. However, Sony terminated the agreement in January due to delays and lack of consensus over leadership of the merged entity. Zee has also approached the Singapore International Arbitration Centre (SIAC) for implementation of the merger agreement.
Zee Entertainment has dismissed media reports claiming the termination of its $10 billion merger with Sony Pictures India arm, stating the report is baseless and factually incorrect. The company said it remains committed to the merger and is working towards its successful closure. Shares of the company recovered following the clarification.
India Business News: Zee Entertainment dismisses rumours about the termination of the $10 billion merger with Sony India. ZEEL is dedicated to ensuring the successful comp
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