Zee Sony merger news: The attempt to forge the nation's largest entertainment conglomerate through the merger of Zee Entertainment Enterprises (ZEEL) and Sony Group Corp has been a rollercoaster. , Companies News, Times Now
The mega merger between Zee and the Sony group was called off on January 22, with the latter issuing a termination letter to formally exit from the amalgamation agreement.
Earlier on Tuesday, news reports had quoted sources saying the ZEEL had re-engaged with Sony Corp to revive the $10-billion merger in a last-ditch effort.
The Singapore International Arbitration Centre (SIAC) denies emergency interim relief to Sony Group companies against Zee Entertainment Enterprises. SIAC s emergency arbitrator states that the National Company Law Tribunal (NCLT) is the appropriate forum. Legal experts confirm that arbitration proceedings regarding Zee s obligation to pay $90 million in termination fees to Sony will continue.