Institutional shareholders, including mutual funds, insurance companies and foreign portfolio investors, who hold 71.78 per cent stake in ZEEL, are in a position to wield the clout in the running of the company
Sony Group is set to cancel the merger pact of its India unit with Zee Entertainment Enterprises Ltd. due to a standoff over whether Zee s Chief Executive Officer Punit Goenka, also its founder s son, would lead the merged entity. The agreement signed in 2021 was that Goenka would lead the new company, but Sony no longer wants him as CEO amid a regulatory probe.
A full-scale antitrust review of plans to create a $10 billion media powerhouse in India by Japan's Sony and Zee Entertainment could force concessions and prolong the process by months at a critical moment for the Indian company.