Sony handovers ‘Zee’ shares!
Japan’s Sony company is interested in buying Zee Entertainment Enterprises Ltd under Subash Chandra. Discussions already existed in the last step. Subhash Chandra is expected to sell all 20 to 25 percent shares. The amount of Rs 13,000 crore received through this sale is likely to be used to lend.
These discussions are currently at the point of counting. Subhash Chandra is seeking a 30 per cent premium on these shares. Subhash Chandra continues to take on how much stock to keep. Currently, Essel Group has a 41.62 per cent stake in the company. About half of them are currently in mortgages at creditors. Now Subhash wants to have around 20 per cent stake. At present, he is likely to get Rs 13,000 crore if he sells his 19 per cent stake at Rs.650. With this money, the situation can be brought under control.
At present, Zee has 66 television channels in 171 countries. This is a good deal for Sony business. Sony operates 29 channels of Indian Subsidiary Company.