Zee up 10% on Sony $10B merger revival report - Breaking The News

Zee up 10% on Sony $10B merger revival report

20 February

1 min read

EPA-EFE/FRANCK ROBICHON

Shares of Zee Entertainment surged over 10% on Tuesday on the National Stock Exchange of India after reports emerged that the proposed $10 billion merger between the Indian media conglomerate and Japanese tech giant Sony could potentially be revived.

According to a report in The Economic Times, Zee Entertainment Enterprises has re-engaged with Sony Group Corp. in a last-ditch effort to resurrect their $10 billion merger. Sources familiar with the matter revealed that both parties are now exploring the possibility of reviving the deal. Zee previously took legal actions against Sony's Indian subsidiary, Culver Max Entertainment Pvt. Ltd., following the cancellation of the merger.

Zee's stocks soared 10.22% at 10:19 am CET to go for 197.10 Indian rupees per share.

mergers and acquisitions sony zee entertainment

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