NEW DELHI, Aug 10 (Reuters) – India paved the way on Thursday for a $10 billion media and entertainment powerhouse, giving Zee Entertainment and the Indian unit of Japan's Sony Group a key merger approval.
The combination, which was announced in 2021, hit problems after the Securities and Exchange Board of India banned Zee's CEO, who had been lined up to run the merged entity, from the boardrooms of listed companies for a year.
Last year, Zee and Sony offered concessions such as pricing discounts to help ease regulatory concerns and received antitrust approval for the merged entity, which will compete with Walt Disney India and billionaire Mukesh Ambani-owned Network18.
https://www.reuters.com/markets/deals/sony-zee-merger-gets-key-indian-approval-2023-08-10/
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