View: Sony merger plan for Zee turns into farce. Time to walk

Sony Group should cut its losses and abandon its pursuit of a merger with Indian media giant Zee Entertainment Enterprises, argues Bloomberg’s Andy Mukherjee. The Securities and Exchange Board of India (SEBI) have barred Zee’s founder Subhash Chandra, and his son, Punit Goenka, from any executive roles at listed firms for allegedly faking loans owed. While shares in Zee have fallen 50% following the news, Mukherjee suggests Zee would regret not selling to Mukesh Ambani’s Reliance Industries following its failed merger talks with Invesco Developing Markets Fund, which would likely have resulted in the Chandras’ exit.