Zee says Singapore arbitrator allowed it to go to India tribunal to enforce Sony merger dealSony scrapped the merger on Jan. 22, ending a deal that could have created one of the South Asian nation's biggest TV broadcasters, claiming breaches of contract.
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A Russian flag and logos of Sony and Zee are seen in this illustration taken January 30, 2024.
Credit: Reuters Photo
New Delhi: A Singapore arbitrator agreed to let Zee Entertainment ask an Indian tribunal to enforce a $10 billion (Rs 83,000 cr) merger with Sony's India unit that was scrapped by the Japanese firm, Zee said on Sunday.
The emergency arbitrator denied Sony's application for emergency interim relief, saying it had no jurisdiction or authority to block Zee from approaching the Indian tribunal, the Indian media company said in filings to India stock exchanges.
Sony scrapped the merger on Jan. 22, ending a deal that could have created one of the South Asian nation's biggest TV broadcasters, claiming breaches of contract.