Mumbai: According to reports from CNBC-TV18 with sources requesting anonymity, Japanese multinational giant, Sony Corporation, has joined the race to pick up stake in Zee Entertainment Enterprises Ltd (ZEEL).In November last year, Essel has openly revealed the market that the company will sell a part of its stake in Zee Entertainment to a global strategic investor.
Sony is said to be in talks with Zee’s promoter Essel Group to buy a part stake or control in the company as reported by CNBC-TV18.
Apart from Sony, American broadcaster Comcast, Chinese investors such as Tencent and Alibaba are also shown interest in the digital content platform of Zee Entertainment, ZEE5, said the sources, adding US giant Amazon may also enter in the race, especially for the OTT (over the top) platform of Zee. However, Comcast, Tencent, Alibaba, Amazon did not comment on CNBC-TV18’s query.
The first round of bid is likely to happen in the next few days, added CNBC-TV18 quoting sources.
In a response to CNBC-TV18’s query, Sony said, “We do not comment on speculation.”
The company’s discussions pertaining to the stake sale, with the prospective partners are ongoing and the progress is extremely positive, Zee spokesperson told CNBC-TV18.
“At this stage, we do not wish to comment on the name of the prospective partner. Once the deal is at an advanced and closure stage, we will certainly announce the relevant details. We would also like to request you to refrain from reporting any news based on market speculations or rumours, and to kindly wait for an official response or statement from ZEE Entertainment’s Corporate Communications team,” the company said.
