Zee stock plunges on reports of Sony deal cancellation

Mumbai: Shares of Zee Entertainment Enterprises dropped 8% on Tuesday – the sharpest single-day fall in nearly three years – on reports that Sony Group may call off the proposed merger between the two, even though the company has denied it.

“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,” it said in a clarification to the exchanges.