Jio in the race to acquire Zee Entertainment?

Jio in the race to acquire Zee Entertainment?

Jan 28, 2019 11:28 IST

Mukesh Ambani-led Reliance Jio could be a contender to buy half of promoter Subhash Chandra’s stake in Zee Entertainment Enterprises. The news comes in even as names like Amazon, Apple, Tencent, and Alibaba are also doing the rounds. In November 2018, Zee promoters said they would divest their own stake to the “right global strategic partner”. Last week Zee shares crashed following a media report that Essel Group's name may figure in a probe linked to demonetisation-led deposits of Rs 3,000 crore. Zee denied the allegation and also said in a statement on Sunday that it met heads of non-bank lenders, chief investment officers of mutual funds and bank representatives to reach an understanding regarding it’s liabilities.