No merger talks with Viacom18: ZEEL informs bourses

Refuting a news report carried by a business daily, Zee Entertainment Enterprise Ltd (ZEEL) has informed BSE and NSE that it was not in any merger deal with Viacom18.

In its regulatory filing, ZEEL stated, “This has reference to news item appearing in www.livemint.com, informing about a potential merger of Viacom18 and Zee Entertainment Enterprises Limited through a share swap deal. We herewith confirm that there is no such transaction being undertaken and the matter is speculative in nature.”

The Mint daily had reported Viacom18 and Zee Entertainment were in initial talks for a potential merger between the two media groups. The report stated that the proposed merger deal would be done through a share swap deal and unlikely to involve any cash transaction.