Zee Clarifies ‘Not Involved In Any Negotiations’ With Sony To Revive Merger Deal

Zee Clarifies ‘Not Involved In Any Negotiations’ With Sony To Revive Merger Deal

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Last Updated: February 20, 2024, 19:06 IST

Zee Entertainment clarifies ‘not involved in any negotiations’ with Sony to revive merger deal

The media firm’s scrip rose over 10% intraday on Tuesday

Zee Entertainment Enterprises Ltd on Tuesday clarified that the talk of renewed talks with Sony to revive the scrapped merger deal is incorrect, and that the company is “not involved in any negotiations”.

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.

“We would like to clarify that the Company has not involved in any negotiations,” said Zee Entertainment in a stock exchange filing about a news report on the supposed revival of talks with Sony.

The media firm’s scrip rose over 10% intraday on Tuesday. On Tuesday, Zee’s scrip on BSE closed trading 8% higher at Rs 193.

“We wish to clarify that the Company is not aware of any information that has not been announced to the exchanges which could explain the movement in the trading,” said Zee.

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