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

Zee Entertainment Enterprises Ltd issued a clarification on Tuesday refuting claims of renewed discussions with Sony to resurrect a previously abandoned merger deal. The company asserted that it is not currently engaged in any negotiations. Earlier, The Economic Times, citing sources, had reported that ZEEL had reopened talks with Sony Corp in a last-ditch effort to revive the $10-billion merger.

In response, Zee Entertainment, via a stock exchange filing, stated, "We would like to clarify that the Company has not involved in any negotiations," addressing the news report regarding the purported revival of discussions with Sony.

Following the speculation, Zee's stock experienced a notable surge, climbing over 10 per cent intraday. By the end of trading on Tuesday, Zee's scrip on the BSE had closed 8 per cent higher at Rs 193.