Discussion with Zee on merger ongoing: Sony
According to media reports, Sony has said that the talks with ZEE will continue till January 20
A day after media reported that Sony may be looking at calling off its $10 billion merger with Zee, the Japan-based company on Wednesday said that the discussion on the deal is ongoing. According to media reports, Sony has said that the talks will continue till January 20.
Earlier in the week, there were reports that Zee-Sony merger may be called off, and that Sony is expected to issue a termination notice before January 20. Following the speculations, Zee on Tuesday informed the BSE on Tuesday that the company is committed to the merger.
“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,” the statement said.
In December it was reported that Zee and Sony have a month's headroom to close the merger. On December 20, ZEEL had informed BSE that Sony has agreed for discussions on extending the merger deadline.
The merger was earlier planned to take place by the end of 2023 but the $10-billion deal could not be finalised with several hindrances, including several legal proceedings against ZEE.
