The National Company Law Tribunal (NCLT) has granted approval for the merger of Zee Entertainment and Sony Pictures Networks India (SPNI), paving the way for a $10 billion media conglomerate. The decision comes after objections from various creditors were dismissed. The merger, first announced in September 2021, received permissions from stock exchanges, the Competition Commission of India (CCI), and the Securities and Exchange Board of India (SEBI). Zee Entertainment’s shares rose by 16.18% upon the announcement. The proposed merger between Sony’s step-down subsidiary and Zee aims to create a significant entertainment network with a 26% market share in India.
The NCLT has approved the Zee-Sony merger; ZEEL shares have increased by more than 16%
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