Zee Ent tanks 13% in worst day since Feb 2023 as Sony may call off merger

Shares of Zee Entertainment Enterprises (ZEEL) tanked 13 per cent on the BSE to Rs 242.20 in Tuesday’s intraday trsde, but ended slightly off lows at Rs 256.25 (down 7.6 per cent) after ZEEL issued a clarification and called news of the Zee-Sony merger termination baseless and factually incorrect. “Zee is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger,” the company said in an exchange filing on Tuesday.