The stock price of Zee Entertainment Enterprises Ltd. crashed more than 30% in Tuesday’s (January 23) trade after the company’s proposed $10-billion merger with Sony was terminated by the latter on January 22. The Zee share ended at Rs. 152.50 on Tuesday. It regained a bit by the end of the day.
Sony terminated its merger deal with Zee on January 22 and also claimed a $90-million termination fee from Zee. On its part, Zee has dismissed the demand as being “legally untenable”.
