Steep fall! Zee Entertainment shares drop 28.18% following Sony's merger termination; here’s what experts have advised
Tuesday, 23 January 2024 Zee Entertainment shares plunged 28.18% as brokerages downgraded the stock due to the cancellation of the Sony merger. The media company is expected to face increased competition from the reported merger of Reliance and Disney Star. Analysts predict Zee's near-term valuation will remain subdued due to uncertainties about its new strategy and partners.
Sony Ends $10 Billion Merger , With India Media Giant Zee.
The deal was called off
on Jan. 22, CNN reports. .
According to Sony, “the closing conditions
to the merger were not satisfied.”.
However, the company “does not anticipate any material impact on its consolidated financial results...
Tuesday, 23 January 2024
