Amidst legal challenges, Zee-Sony merger could be completed by December

Even as legal hurdles continue to mount against Zee Entertainment (ZEEL), the proposed $10-billion Zee-Sony merger could be completed by December, according to a report by The Financial Express (FE).

Shareholders will get 85 shares of the merged entity for every 100 shares held in ZEEL after the merger. Shares of ZEEL will get delisted and relisted after the completion of the merger process.

Karan Taurani, senior vice president of research at brokerage Elara Capital, said the delay is marginal. He added that there could be a marginal delay in filing the merged entity’s closing precedents (CPs).