Merger fallout: Zee share prices down 30%
Zee prices opened at Rs 208 per share against the previous close of Rs 231.75 on the BSE
Share prices for Zee plunged over 30% on Tuesday, hitting the 52-week low of Rs 162.25 per share.
This comes after the termination of the Zee-Sony merger deal.
Zee prices opened at Rs 208 per share against the previous close of Rs 231.75 on the BSE.
At present, Zee Entertainment's current market capitalization stands at approximately Rs 15,940 crore, a significant decrease from the nearly Rs 22,260 crore before the merger was called off.
According to analysis by CLSA, with the merger terminated, Zee’s valuation will likely decline to 12x PE levels (Aug-21) seen prior to the merger announcement.
