Sony India yet to agree on extension of deadline for merger with ZEE Limited
The Hindu
SPNI and ZEE discuss possibility of extending merger deadline, SPNI yet to agree.
Sony Pictures Networks India (SPNI) on December 19 said it had not agreed to any extension of the deadline as sought by Zee Entertainment Enterprises Ltd (ZEEL) citing contractual obligations.
“ZEE’s notice to the Bombay Stock Exchange and the National Stock Exchange of India dated December 17 is an acknowledgement that they will not be able to meet the December 21, 2023 deadline to close the SPNI/ZEE merger,” a spokesperson of SPNI said in a statement.
“The notice triggers an existing contractual provision in the deal that allows for both parties to discuss the possibility of extending the deadline. SPNI is required to start those conversations but has not yet agreed to a deadline extension,” the statement said.
“We look forward to hearing ZEE’s proposals and how they plan to complete the remaining critical closing conditions,” the statement added.
Bitcoin’s march toward $100,000 made further ground on Thursday as the coin crossed $95,000.
Billionaire Gautam Adani indicted in New York for bribery and fraud scheme, impacting Adani Group's financial plans.
SEC charges Adani Group chairman with defrauding American investors and bribing officials in multi-billion-dollar solar energy project scheme.
Country Club Hospitality and Holidays Ltd clears ₹600 crore debt, explores global partnerships, franchise model for growth and expansion.
Steel Secretary addresses concerns over cheap steel imports from FTA nations, highlighting challenges faced by domestic industry.
Stock markets in India closed for Maharashtra elections, with a bounce back in domestic indices observed on Tuesday.
The sensor systems for vehicles in India are all imported. Nothing is made in India though they are engineered at a sustainable low cost, said ISRO Chairman S. Somanath.
Donald Trump's proposed tariffs on Chinese imports could impact global trade, inflation, and economic growth.
Evernorth Health Services opens global capability centre in Hyderabad, plans to hire 300 more employees by April.
Tata Power partners with Bhutan's DGPC to develop 5,000 MW clean energy capacity, strengthening regional clean energy sector.
Rupee closes flat against dollar amid geopolitical tensions, domestic market optimism; traders eye upcoming data and elections.