Talks of a proposed merger between ZEE Entertainment Enterprises Limited and Sony Pictures Networks India, will need to completed today, ahead of its deadline.
Economic Times reports that ZEE was trading nearly five per cent higher on Tuesday amid the company’s merger with Sony as 90-day exclusivity of non-binding bid ends today.
ZEE MD and CEO, Punit Goenka has previously spoken positively about the deal. Last month, Goenka said that the merger was in the “final stages of stitching up”.
The two parties are set to sign a binding merger agreement – within the pre-agreed 90-day exclusivity period.
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