Mumbai: The much-anticipated merger of Zee and Sony has come in a different mode on Tuesday. Zee clarified to the stock listing department about news led by the Economic Times and dismissed all claims of termination of the merger agreement costing Rs 10 billion.

The company also said the report is baseless and factually incorrect. The news was published in 'Economic Times' titled, ' The Insider story of what went wrong over two years'. While clarifying these aspects, ' We wish to reiterate that the company is committed to the merger with Sony and continuing to work towards a successful closure of the proposed merger.' Zee said in its released notification.

Zee also clarifies to abide by commitment for all compliances to SEBI (Security Exchange Board of India) as per Listing Obligations and Disclosure Requirements) Regulations 2015 and will continue to make disclosures in accordance with the same. Zee company secretary Ashish Agrawal shared disclosure clarification.

After the closing bell shares of Zee Entertainment were down by 8 per cent. ET reported on January 9 regarding potential calling off the deal between Sony and Zee.