India News | Competition Comm Gives Conditional Approval to Sony-Zee Merger Deal
Get latest articles and stories on India at LatestLY. Competition Commission on Tuesday gave its conditional approval for the proposed merger between media groups Sony and Zee, according to sources.
New Delhi, Oct 4 (PTI) Competition Commission on Tuesday gave its conditional approval for the proposed merger between media groups Sony and Zee, according to sources.
The approval has been given after the Competition Commission of India (CCI) accepted the voluntary remedies proposed by the parties to allay possible anti-competitive concerns, the sources close to the development said.
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The proposed merger of Zee Entertainment Enterprises Ltd (ZEEL) with Sony Pictures Network India (SPNI) was announced in September last year.
The deal would help Sony to expand its media business in India. SPNI is an indirect wholly-owned subsidiary of Sony Group Corporation, Japan.
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Deals beyond a certain threshold require the approval of the CCI.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)