India's Zee plunges 30% as investors, analysts bail after failed Sony merger

India's Zee plunges 30% as investors, analysts bail after failed Sony merger

Zee Entertainment and SONY logos are displayed in this illustration taken, September 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Zee Entertainment’s shares plunged as much as 30% on Tuesday, set for their worst day ever, as investors piled out of the Indian broadcaster after its failed $10 billion merger with Sony’s local unit fanned worries about its survival in a competitive industry.