Zee Entertainment Enterprises Ltd (ZEEL) Surges Over 7% as Merger Talks with Sony Group Resumed
Shares of debt-laden ZEEL saw a notable rally of over 7% to reach a day’s high of Rs 192 on Tuesday. This surge comes as the media conglomerate reinitiates discussions for a merger with Sony Group, following the cancellation of the $10 billion deal last month
In a dramatic turn of events reminiscent of an unending soap opera, Zee Entertainment Enterprises Ltd (ZEEL) has reportedly re-engaged with Sony Group Corp in a last-ditch effort to revive their merger, as reported by ET earlier today. Representatives from both companies have held meetings across various locations in Mumbai, and efforts to salvage the deal have gained momentum over the last fortnight.