Shares of India s Zee
Entertainment Enterprises fell nearly 4% on Monday
before trimming some losses, as the media company over the
weekend sought further extension for a merger deadline from.
The cut-off date for the merger is December 22, 2023, two years from when the merger agreement between the two media companies was signed on December 21,2021. However, Zee has now requested Sony to extend the timeline in order to make the merger scheme effective, according to a Bombay Stock Exchange (BSE) filing.
Zee-Sony merger: Zee Entertainment has sent a letter to Sony Group Corporation requesting an extension of the timeline of the merger of the two entertainment companies
India s Zee Entertainment
Enterprises said in a stock exchange filing on Sunday
that it had sought a further extension of a merger deadline from
the Indian arm of Japan s Sony Group to make the
scheme.
MUMBAI : India's Zee Entertainment Enterprises said in a stock exchange filing on Sunday that it had sought a further extension of a merger deadline from the Indian arm of Japan's Sony Group "to make the scheme effective".Zee Entertainment said in seperate filing on Saturday that independent board directo