Zee Sony Merger Deal

Zee-Sony merger: CLSA downgrades Zee Entertainment to ‘sell’, slashes target price by 34%

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Zee-Sony merger: CLSA downgrades Zee Entertainment to ‘sell’, slashes target price by 34%

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

Zee Ent Shares Fall 10% After Reports Of Sony To Call Of Merger; Details

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Zee Ent Shares Fall 10% After Reports Of Sony To Call Of Merger; Details

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