Zee-Sony merger continues to await approval from CCIZEEL - 286 Change: 6.95 (2.49 %)
As per CNBC-TV18, the meeting at the CCI held for Zee-Sony merger was inconclusive. Reports state that CCI is concerned that the merged entity could become too huge, with humongous market position. The commission has now asked both companies to make written submissions before it takes a final decision.
As stated earlier, we expect the merger timelines to get extended but believe consummation of the same would be eventually achieved. We expect Zee-Sony to suggest further measures to iron out antitrust worries of CCI owing to the potential humongous market position of the merged entity.