Freshly adding Zee stock slightly risky at this point of time: Karan Taurani

economictimes.indiatimes.com:

Karan Taurani, Senior VP, Elara Securities, says “we believe that over the next two days, we will get clarity in terms of where that is heading. Otherwise, if the extension is sought for, the extension could be for three to four months and that would primarily be for the regulatory approvals which is from the MIB side, maybe a fresh approval with the ROC side for the new CEO, some kind of shareholder approval for the new CEO. It will not require any big regulatory hurdle in terms of a fresh NCLT approval because NCLT approval is not time-bound.

Let us just get in a view because there has been so much flip-flop. Just last week, there was a request by Zee Entertainment to extend that deadline. What exactly is the implication of Sony Pictures saying that this triggers an existing contractual provision in the deal? This does not mean that by any means it is being called off?
Yes, absolutely. Zee sought an extension on the deal and Sony has failed to agree on the same. This is one thing that the likelihood of the deal getting called off remains to be low primarily because of this reason. Because if the deal was to be called off, this kind of extension would not have been sought. Now, what we believe is that negotiations are ongoing between both the parties and we believe that Mr Punit Goenka wanting to be the CEO could be a potential roadblock here in terms of the merger going through, in terms of Sony wanting or not wanting an extension.

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So, we will wait in terms of how this