Zee Entertainment shares off 2-month lows; is merger with Sony still on cards?

Recouping partial losses, shares of Zee Entertainment Enterprises came off two-month lows after the company issued a statement that reports of the merger deal with Sony potentially collapsing were “baseless” and factually incorrect.

“We wish to reiterate that the company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger,” Zee said in a statement to the stock exchanges.