ZEE to sue Sony for damages over failed merger
ZEE & Sony in merger talks
ZEE Entertainment Enterprises Limited is set to sue Sony for for damages over the failed merger.
In an interview with ET, Chandra alleged that Sony intentionally prevented the merger despite meeting merger conditions, including the stepping down of Punit Goenka as CEO of the merged entity.
Furthermore, Chandra said that no alternative partnerships with groups owned by Ambani or Adani were on the table. Instead, he was keen for his family, including his NRI son, Amit Goenka, to invest in ZEE to increase its stake in the company by 5%, targeting a total of 26%.
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