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Zee Share Prices Increase After Merger With Sony Entertainment

Zee share prices
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Highlights

  • The Zee share prices have increased by quite a notch after the merger with Sony Pictures in India
  • The merger might lead to some more changes in the entire system of the companies as well
  • Punit Goenka has been appointed as MD and CEO of the merged section for the next five years.

Zee share prices have seen a huge hike over the last few weeks and this is the highest rise over the past 52 weeks. The valuation is placed at Rs 355.40 and this gained about 39% intraday on 22nd September. The company has recently signed a merger with Sony Pictures India.

The trading share volume has also increased from 3,214,663 shares to 7,183,609 shares. This has shown an increment of 123.46% and the total average of the last thirty days have been equivalent to 538.52%.

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Executors Signing Off The Zee Share Price Increment

The executors of Zee have finally signed off a non-binding term sheet with Sony Pictures and they have made sure that the composite scheme arrangement will lead to further improvements in the Zee share prices. The growth capital will be very helpful for Sony as it will be able to aid in the expansion of Sony India as a part of the merger.

This has been mentioned by Zee in the press conference as well. 47.07% of the shares are now occupied by the shareholders of Zee entertainment. The rest of the shares are held by the Sony Network as per the terms of the merger.

Changes In The Infrastructure

The board which has been created for the merged company will be responsible for the complete management and control of the business. The affairs which are related to the merged company will be dealt with through joint decisions. Punit Goenka has been appointed as the MD and CEO of the merged company for the next five years. The binding exclusivity of the term sheet has been decided for 90 days only. This is sure to bring on some new changes in the infrastructure of both organizations.

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What Might Happen Next?

What do you think about the increment in the Zee share prices? Was this change expected? Will there be any kind of further changes in the system? Let us know your views in the comment section below!

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