Zee shares were locked at 10% lower circuit in the opening trade on Wednesday on report that Sebi has found irregularities worth ₹2,000 crore in the accounts of the company. In a setback for Zee Entertainment Enterprises Ltd (ZEEL), capital market regulator Securities and Exchange Board of India (SEBI) has unearthed a financial discrepancy exceeding … Read more
Global brokerage firm CLSA has revised its recommendation on Zee Entertainment, changing it from a previous ‘buy’ rating to a ‘sell.’ This update comes in response to the cancellation of the $10 billion mega-merger with Sony Pictures Network. “With Zee-Sony merger being terminated, we believe Zee’s PE will slump back to 12x levels, seen prior … Read more
Sony Group Corp has reportedly called for a board meeting today to decide on the $10 billion merger with Zee Enterprises. Two key meetings are expected to happen as per an ET report where a final call will be taken. ET said Sony is likely to call off the deal unless Puneet Goenka, ZEE MD … Read more
Shares of Zee Entertainment bounced back strongly in today’s intraday trade by gaining 4.48%, reaching ₹267.80 apiece, following a 7.64% drop in the previous trading session. The sharp uptick in shares today is attributed to the company’s clarification regarding media reports suggesting a potential cancellation of the planned merger between Zee Entertainment and Sony Group. … Read more
Shares of India’s Zee Entertainment fell 10% in early trade on Tuesday, a day after Bloomberg reported that Japan’s Sony was planning to scrap the $10 billion merger of its India unit with the broadcaster. The story, citing sources, said that Sony is looking to cancel the deal over a standoff on whether Punit Goenka … Read more
Shares of ZEE Entertainment Enterprises Ltd could see significant downside in case the proposed ZEE-Sony merger is called off, said Emkay Global. As per a report, Sony is likely to issue a termination notice by January 20 as the decision on who would be at the helm of the merged company is the contentious issue, … Read more