Zee Entertainment has issued a clarification that the firm was not involved in any negotiations with relation to the collapsed Sony merger deal. Reports claimed Zee had engaged with Sony Pictures Networks India in a last-ditch attempt to revive their $10-billion merger that was called off on January 22.
The reports suggested that Zee Entertainment Enterprises (ZEEL) re-engaged with Sony Group Corp in a last-ditch attempt to revive their merger, which was officially called off on January 22, the day of the Ram Mandir inauguration in Ayodhya.
During Zee’s recent analyst call, CEO Punit Goenka had said: “I certainly wanted the merger to be implemented. In line with this aspiration, we even took several steps towards divestment or closure of profitable businesses in the domestic and international markets. I personally offered several proposals and solutions to Sony, to address their demands, but unfortunately, they remained unaccepted. Since the matter is sub-judice, I would not like to say more and let the law take its own course.”
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