Sony called off the $10 billion India Zee merger

Current Context: Sony Corp has indeed terminated the $10 billion merger between its India unit and Zee Entertainment Enterprises on 22nd January 2024.

• The original merger plan would have seen Sony holding a 51% stake in the entity.
• However, the merger was called off due to unmet conditions.
• There have been reports of disagreements over leadership.
• Sony is now seeking a $90 million termination fee.
• In response, Zee has stated that it could take legal action against Sony.
• The company has denied the allegations and stated that all efforts and steps were taken by ZEEL (Zee) in line with the Merger Cooperation Agreement.

Question:

Q.1 What was the original plan for Sony’s stake in the merged entity?
a. 49%
b. 50%
c. 51%
d. 52%