Zee Entertainment shares fall 5% on reports of Sony merger deal collapse

Shares of Zee Entertainment Enterprises fell 5.1 per cent on Friday following media reports that the company’s merger transaction with Sony India is set to collapse over the weekend.

Zee’s shares closed at Rs 235.5 a share on Friday with a market valuation of Rs 22,620 crore. The market valuation of Zee has dropped by 30 per cent, or Rs 9,759 crore, since the deal was first announced on 9 September 2021.

On 11 January this year, Sony Group of Japan had said it is continuing talks until 20 January on the deal to merge its Indian subsidiary with Zee Entertainment Enterprises that would create a $10 billion entity.