Sony Group Corporation has officially notified Zee Entertainment Enterprises Ltd it plans to call off the $10-billion merger between its India unit and the media network, according to a news agency Bloomberg report on Monday, January 22. It has ended a two-year acquisition saga.
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“The Japanese entertainment giant sent a termination letter to Zee early on Monday (January 22) and is expected to disclose it to the exchange later,” according to the Bloomberg report citing people familiar with the plan.
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