Reacting to news reports about a potential amalgamation of Viacom18 and Zee Entertainment Enterprises Limited through a share swap deal, Zee Entertainment confirmed in a regulatory filing that there is no such transaction being undertaken and the matter is speculative in nature.
"We herewith confirm that there is no such transaction being undertaken and the matter is speculative in nature." The report said that the merger of Viacom18 and Zee is proposed to be done through a share swap deal. The discussion on the matter started a few weeks ago, and the deal is unlikely to involve any cash transaction. The merger could create a large media firm with interests spanning broadcast, OTT, live entertainment and movie production, the report said.
On Monday, during the noon session at around 2.40 PM, shares of Zee Entertainment Enterprises was quoted at Rs222.30 per unit up by 0.16 percent on NSE. In comparison, the Nifty stood at 15736 level, up by 53 points in trade.
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