India's Zee Entertainment says merger with Sony will get stuck on insolvency proceedings

India's Zee Entertainment says merger with Sony will get stuck on insolvency proceedings

FILE PHOTO: Zee Entertainment and SONY logos are displayed in this illustration taken, September 1, 2022. REUTERS/Dado Ruvic/Illustration

India’s Zee Entertainment Enterprises Ltd told a tribunal on Friday its merger with a local unit of Japan’s Sony Group Corp will “get stuck” due to the initiation of insolvency proceedings against the Indian company.

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