<div class=newsTextDataWrapInner><p>BENGALURU (Aug 27): India's Zee Entertainment Enterprises and Sony's unit in the country have agreed to withdraw all claims against each other related to their failed US$10 billion (RM43.5 billion) merger, Zee said on Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>The two companies scrapped the merger in January, in part because Zee failed to meet some financial terms of the deal, Reuters had reported.</p></div>

<div class=newsTextDataWrapInner><p>Zee applied with the India company tribunal to force the deal through but withdrew that in April to "aggressively pursue" all its claims against Sony in arbitration proceedings at the Singapore International Arbitration Center (SIAC).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The two companies will now withdraw all claims made at the SIAC and at India's national company tribunal, Zee said in a statement.</p></div>

<div class=newsTextDataWrapInner><p>The company said that neither party will have any continuing obligations or liabilities to one another as part of the non-cash settlement.</p></div>

<div class=newsTextDataWrapInner><p>Zee's shares surged 13% on the news.</p></div>

<div class=newsTextDataWrapInner><p><i>Uploaded by Magessan Varatharaja</i></p></div>

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India's Zee Entertainment Enterprises and Sony's unit in the country have agreed to withdraw all claims against each other related to their failed US$10 billion (RM43.5 billion) merger, Zee said on Tuesday.

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<p>Indian Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) and its ally&nbsp;scored a landslide victory in Maharashtra, the country's richest state, while the opposition bloc performed strongly in Jharkhand, a mineral-rich region.</p>


<p>(Nov 23): The US government’s debt load is now seen as the biggest risk to financial stability, outweighing persistent inflation in a Federal Reserve survey.</p>

<p>“Concerns surrounding US fiscal debt sustainability were atop the list this survey, followed by escalating tensions in the Middle...

<p>Nato secretary general Mark Rutte met US President-elect Donald Trump in Florida as Europe waits apprehensively to see how the next administration will approach the war in Ukraine.</p>
