Shares of debt-ridden Zee Entertainment Enterprises Ltd (ZEEL) rallied over 7% to the day’s high of Rs 192 on Tuesday as the media house re-initiated talks for a merger with Sony Group after the $10 billion deal was cancelled last month. In a fresh dramatic twist, which is no less than an unending soap opera, … Read more
Mumbai: No twist is too dramatic for serialised shows that are staple of nighttime television in India’s vast market for general entertainment. It’s no different, it appears, in the two-year-long saga that has sought to create the country’s largest entertainment company by a merger. Zee Entertainment Enterprises (ZEEL) has re-engaged with Sony Group Corp in … Read more
Shares of Zee Entertainment on Tuesday hit the 15% lower circuit at Rs 197 on BSE after brokerages downgraded the media stock following a painful end to an overstretched drama surrounding the $10-billion merger with Sony.“With the merger being called off, we downgrade Zee to SELL (from BUY) with a revised target price of Rs … Read more
Zee Entertainment Enterprises Ltd tumbled as much as 10% after the cancellation of a planned $10 billion merger with Sony Group Corp in India sparked a flurry of downgrades, with most analysts predicting a sharp contraction in its valuations.At least nine brokers including Citigroup Inc and CLSA reduced their ratings on the stock as efforts … Read more
Zee Entertainment on Tuesday rejected media reports suggesting the cancellation of the $10 billion merger with Sony Pictures’ India division in a filing with the stock exchange. The Puneet Goenka-led company stated that the report is unfounded and contains factual inaccuracies.“We wish to reiterate that the Company is committed to the merger with Sony and … Read more
Shares of Zee Entertainment Enterprises Ltd (ZEEL) witnessed a significant decline of up to 10%, reaching a day’s low at Rs 249.75 on the Bombay Stock Exchange (BSE). This drop came in response to reports suggesting that Sony Group Corp is considering calling off the $10 billion merger, which has been under discussion for over … Read more