The ball is in its court,” said a legal source aware of the ongoing proceedings. An industry source said that perhaps Sony wants to renegotiate the deal at a lower valuation. Also read: At ₹376, Paytm shares hit upper circuit for third straight session“Even in NCLT, Zee has argued in favour of the merger. The legal team of Sony did not clarify or deny the development on its acquisition talks with Walt Disney. Zee is likely to tell NCLT that Sony was pre-determined to terminate the merger agreement,” said a legal source.

Source: The Hindu February 20, 2024 09:55 UTC