New Delhi, Feb 20 – Zee Entertainment has denied reports that the company is in talks to revive the merger with Sony.
Zee Entertainment said, “We would like to clarify that the company is not involved in any negotiations, or any other event as stated in an article, and we categorically confirm that the news item is factually incorrect.
“We wish to clarify that the company is not aware of any information that has not been announced to the exchanges, which could explain the aforesaid movement in the trading, and we are not in a position to determine the material impact of the article on the company.”
Zee shares were up more than 8 per cent on Tuesday and closed at Rs 193, up Rs 14.35. The bounce in the stock was attributed to reports that Zee and Sony were in talks again to revive the merger.
biz/san/arm
