Zee Entertainment dips 6% amid reports of CCI scrutiny over Sony deal

According to a Reuters report, Competition Commission of India (CII), observed that the merger between the Indian unit of Sony and ZEE will potentially hurt competition

Shares of Zee Entertainment Enterprises (ZEE) dipped 6 per cent to Rs 241.75 on the BSE in Thursday's intra-day trade after reports suggested that the country's antitrust watchdog, Competition Commission of India (CII), observed that the merger between the Indian unit of Sony and ZEE will potentially hurt competition by having "unparalleled bargaining power".

At 02:14 pm, ZEE shares were 5 per cent lower at Rs 244.10, as against 1.4 per cent decline in the S&P BSE Sensex. In the past three months, the stock has underperformed the market with falling 3 per cent decline, as compared to 4