ZEE Entertainment Enterprises Limited has strongly denied industry speculation about a merger with Viacom18.
The industry was abuzz with speculation about the proposed merger after a report in the LiveMint. However, a spokesperson for ZEEL has told Exchange4Media, “This has reference to news item appearing on livemint.com informing about a potential merger of Viacom18 and Zee Entertainment Enterprises Limited through a share swap deal. We herewith confirm that there is no such transaction being undertaken and the matter is speculative in nature.”
The report had stated that the merger will be done through a share swap and is unlikely to involve any cash transaction.
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