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Following media tales relating to the Zee-Sony merger being referred to as off, the previous has issued an announcement labelling it as ‘baseless and factually incorrect’.
The assertion issued to the BSE added that Zee is dedicated to the merger with Sony and is continuous to work in direction of the profitable closure of the merger.
Zee added that the corporate has all the time complied with its obligations beneath the Securities and Trade Board of India (Itemizing Obligations and Disclosure Necessities) Laws, 2015 and can proceed to make disclosures in accordance with the identical.
This is the assertion in full:
That is with regards to (i) the letter dated January 9, 2024 bearing reference quantity NSE/CM/Surveillance/13787 obtained from Nationwide Inventory Trade of India Restricted; and an e-mail dated January 9, 2024 bearing reference quantity L/SURV/ONL/RV/KS/ (2023- 2024)/ 78 obtained from BSE Restricted, relating to the information merchandise captioned “Sony getting ready to terminating $10 billion merger with Zee: The within story of what went mistaken over two years” appeared within the “economictimes.indiatimes.com”. On this regard, we wish to make clear that the above-mentioned article is baseless and factually incorrect. We want to reiterate that the Firm is dedicated to the merger with Sony and is continuous to work in direction of a profitable closure of the proposed merger. We might additionally prefer to state that the Firm has all the time complied with its obligations beneath the Securities and Trade Board of India (Itemizing Obligations and Disclosure Necessities) Laws, 2015 and can proceed to make disclosures in accordance with the identical.
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