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The merger, announced in 2021, was delayed after India s markets regulator last year barred Goenka from directorships of any listed company over allegations that he was involved in diverting company funds, although a tribunal lifted the ban in October. ....
ZEE share price: The stock tanked 12.66 per cent to hit a low of Rs 242.30, as Bloomberg in a report suggested that the Japan-based Sony Group Corp was planning to call off the merger of its India unit with ZEE.
Sony is planning to officially send a termination notice to Zee by this month end, maybe as early as January 22nd, said two people aware of the matter, unless Zee relents on key clauses. Sources close to Zee said most operational CPs have been "cured" while some joint ones are pending from both sides and those linked to the actual consummation of the merger will happen on deal closure. ....
Zee stock dived 12.67 per cent to hit a day low of Rs 242.30 against its previous close of Rs 277.45. Brokerage Emkay Global said Zee shares could see a significant downside in case the proposed ZEE-Sony merger is called off. ....
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 ....