CCI observation, further enquiry may delay Zee, Sony mergerZEEL - 267 Change: 13.45 (5.31 %)
News: As per a Reuters report, CCI, in its initial review, has said that a merger between the Indian unit of Sony and Zee Entertainment will potentially hurt competition by having "unparalleled bargaining power". Thus, it is considered appropriate to conduct further inquiry into the matter.” It has given the two companies 30 days from August 3 to respond.
View: We note that Zee in a statement has said it continues to take all the required legal steps to complete all the necessary approval processes for the proposed merger. The legal implication, as stated in media reports, however, could be that CCI's findings may delay regulatory approval of the deal and could force the companies to propose changes to its structure.