Zee moves National Company Law Tribunal against Sony, contests $90 million claim before Singapore court
Wednesday, 24 January 2024 Zee Entertainment has urged Sony to withdraw its merger termination notice and honor its obligations. Zee has contested Sony's claims of breaching the merger pact and has approached the NCLT seeking directions to implement the merger. Sony wanted to terminate the merger agreement and demanded a termination fee, but Zee denies that Sony is entitled to terminate the agreement.
Sony Ends $10 Billion Merger , With India Media Giant Zee.
The deal was called off
on Jan. 22, CNN reports. .
According to Sony, βthe closing conditions
to the merger were not satisfied.β.
However, the company βdoes not anticipate any material impact on its consolidated financial results...
Wednesday, 24 January 2024
