THE INDIAN UNIT of Japan's Sony Group Corporation has turned down a deadline extension sought by Zee Entertainment for their proposed $10-billion merger that has been in the works for two years now.
On Tuesday, Sony Pictures Networks India (SPNI) said that it had not agreed to a deadline extension that Zee had sought on Sunday, adding that it wanted to hear Zee's proposal to close the merger process instead. The announcement sent Zee's shares tumbling down as much as 4.8% on the BSE, before finally settling at ₹271.65 apiece, down 3.17% versus the previous day's close. It was the day's worst performer on the S&P BSE 100.
"We look forward to hearing Zee's proposals and how they plan to complete the remaining critical closing conditions," SPNI said, adding that Zee's December 17 notice to the BSE and NSE was an acknowledgment that it was unable to meet the December 21, 2023 deadline to close the proposed merger.
هذه القصة مأخوذة من طبعة December 20, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 20, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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