Sony and Zee’s merger discussions have been ongoing for two years, but there has been no progress. This has caused concern for nearly 400,000 shareholders of Zee Entertainment Enterprises. The stock on Tuesday crashed 14% after reports suggested Sony Group is close to calling off the proposed $10 billion merger between its India operations with Zee Entertainment Enterprises. However, Zee dismissed these rumours as “baseless” and affirmed its commitment to the merger with Sony.
