India Business News: Singapore’s arbitration tribunal has rejected Sony’s plea against Zee that sought a stay on court proceedings in India after the Japanese media major called off a $10-billion merger.
A sneak peek into the arguments likely to be put forth by Zee in its case before the NCLT next week shows how it made multiple attempts to save the merger deal with Sony.
According to an exchange filing, I-Pru MF has sold 2.06 crore shares or 2.15% stake between January 20 and January 30 in a series of secondary market transactions. At the end of the December quarter, the fund house held a 7.25% stake in the company and post the stake sale, it has about 5.09%.